Can You Take Out Life Insurance On Other People?

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   Peggy Mace

   Most of the U.S.

   You can take out life insurance on other people if you have an insurable interest in their lives. I.e. Their death would affect you financially, in a negative way. The life insurance is to make up for that loss, not to make a profit on their death. They must give permission for you to take out life insurance on them.

   Answered on October 1, 2013

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