Can Someone Buy Life Insurance For Someone Else?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaThe operative word in this question is “for.” You can be the payer for life insurance on someone else. How benevolent of you. But if you meant “on” instead of “for” then the answer is only if you can prove insurable interest between yourself and the proposed policy insured. What financial loss or exposure is there between the two parties?Answered on July 8, 2013+01+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.In order to buy life insurance for someone else, the person being insured must give consent to the policy, sign the application, and cooperate with underwriting requirements (be that a phone interview, exam, or whatever is asked). It is not possible to purchase a policy for someone else without their knowing it.Answered on July 10, 2013flag this answer
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