Can You Get Life Insurance On Someone Else?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaLife insurance must have a financial interest between two parties to justify the coverage of life insurance. The amount of life insurance also needs to be justified. With the exception of a minor child, you can not purchase life insurance on some one else without their written consent as the policy insured in the life insurance application.Answered on September 12, 2013flag this answer.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.You can get life insurance on someone else if you have an insurable interest with them. An example of insurable interest is this: If a non-relative owes you money, you could take out a life insurance policy on them for the amount that they owe you. But they could not take a life insurance policy on you.Answered on September 12, 2013flag this answer
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