Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
You can if you have an 'insurable interest." That means that there is some sort of financial link between you. Your brother would, of course, need to cooperate in the process, sign the application and provide medical information. There are many circumstances in which this would make perfectly good sense.
If your brother is a business partner with you, taking out life insurance policies on each other would be an excellent way for one of you to buy the other out, if one passed away.
If your brother is disabled and you have been contributing regularly to his financial well being, you could take out a life insurance policy on your brother. Both to pay for his final expenses, and also to partially repay you for your generosity to him over the years.
There are other situations where taking out life insurance on your brother is legitimate in world of life insurance. There are also some situations where taking out life insurance on your brother would not be allowed. Contact a reputable agency online or locally to discuss your particular scenario.
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If your brother is disabled and you have been contributing regularly to his financial well being, you could take out a life insurance policy on your brother. Both to pay for his final expenses, and also to partially repay you for your generosity to him over the years.
There are other situations where taking out life insurance on your brother is legitimate in world of life insurance. There are also some situations where taking out life insurance on your brother would not be allowed. Contact a reputable agency online or locally to discuss your particular scenario.