Can You Buy Life Insurance For Someone Else at Life

Can You Buy Life Insurance For Someone Else. Life insurance is a personal product that allows you to provide for your loved ones in the event of the unthinkable. You can purchase a life insurance policy on a family member, a romantic partner, or a business partner.

You can buy a life insurance policy on someone else, as long as they give legal consent and there is an obvious insurable interest. You can, but only if you meet the proper requirements. No one thinks about buying life insurance for someone else.

The facts of life (insurance) BNN Bloomberg

The simple answer is, “yes”. If you can prove an insurable interest in that person, you can get a life insurance policy on them. Can you take out life insurance for someone else? Generally, you can buy life insurance for someone else under certain circumstances.