Who Can Take Out A Life Insurance Policy On Me?
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63333 POINTSview profilePeggy MaceMost of the U.S.For someone to take out a life insurance policy on you, they must share an insurable interest with you. I.e. If you passed away, it would cause them financial harm. Also, you must give them permission to take out the policy by signing the application and cooperating with any of the underwriting requirements, be that an exam, phone interview, etc.Answered on July 31, 2013flag this answer
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaLife insurance is fundamentally protection for family members, business partners and charities who depend on donors. Life insurance is premised on the economic relationship between the policy insured and the policy beneficiaries. If there is no insurable interest the application for life insurance will be denied. And no one can take out a life insurance policy on you without your written consent on the application.Answered on July 31, 2013flag this answer
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