Life Insurance On Someone Else at Life

Life Insurance On Someone Else. If you want to know more about how all of this. Generally, you can buy life insurance for someone else under certain circumstances.

The stories you hear about in the news where a spouse, child or sibling kills a family member to access life insurance payouts are, thankfully, very rare. So, can you get life insurance on someone else? You can choose from several types of life insurance.

You own the policy, so you control who is the beneficiary (typically, you’d choose yourself). It needs to be someone you know and not a mere acquaintance or a stranger. Why do life insurance companies insist on you having an insurable interest? In short, the answer to this question is yes.