Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Someone can only take a life insurance policy out on you if you consent to it. Every application for life insurance requires the proposed insured's signature. From there, there needs to be an insurable interest and the coverage has to be suitable to the need.
I highly recommend consulting with an independent broker to help you find the policy that is going to best suit your needs. If you have any questions, send me a private message on here or check out my website (a link is available on my profile page)
A person that would be able to take out a life insurance policy on you would have to have a vested interest in your death. Examples would be an immediate family member, a caretaker, a business partner or a key man to a company would have a true loss if you were to die. No one however can take a policy out on you without your knowledge and consent. You must be underwritten regardless who pays the premiums. No one without a vested interest would be able to take out a life policy regardless.
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I highly recommend consulting with an independent broker to help you find the policy that is going to best suit your needs. If you have any questions, send me a private message on here or check out my website (a link is available on my profile page)