Can Anyone Buy A Life Insurance Policy On Someone Else?

  1. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    In order to take a policy out on another individual you must have some sort of insurable interest.  A family member, an employer, a creditor, are all examples of insurable interest.  The party being insured must also have knowledge and approve of the insurance and sign the application.
    Answered on May 11, 2013
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