Can Anyone Take Out A Life Insurance Policy On Anyone?

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    David RacichPRO
    Fountain Hills, Arizona
    No. There must be insurable interest as defined by economic loss at the demise of the policy insured. If no such financial liability can been established the life insurance company will deny the application. Unrelated parties with no business nor personal economic relationship cannot “take out” a life insurance policy on someone else.
     
    Answered on July 5, 2013
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