Can I Get Life Insurance On My Boyfriend?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    As long as you have an insurable interest you can buy a life insurance policy on a person.  That interest need only be present at the purchase of the policy.  If that interest ceases you can still own the policy on the other's life.  There are many scenarios where this is practiced and generally is based on a dependence on the economic value of the other person (boyfriend.)
    Answered on February 7, 2014
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  2. 1330 POINTS
    Mark Taylor
    Licensed Life Agent, Life and Finance/ 50 States, New York
    Yes you may take out a policy on your boyfriend as long as it is for financial dependence. Some companies don't allow this unless there is a financial need generated. He must be aware of the policy and a beneficiary be appointed. If you do take out the policy you will be the policy owner and he the insured. You can also have him be the policy owner and the payor of the policy. Almost the same. Anyone can be the named beneficiary as the insured chooses. There are other ways to do this. Contact me for mors info.
    Answered on February 10, 2014
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  3. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    If you live with your boyfriend and share expenses with him, you can get a life insurance policy on him. If you and your boyfriend are just dating and not living together, it is doubtful that you will be able to purchase a policy with your boyfriend as the insured and you as beneficiary. If you are engaged to be married, it is more likely that you would be able to purchase such a policy. I hope that helps.
    Answered on October 21, 2014
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