Can I Put Life Insurance On Someone Else?

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   David Osgood

   Agent, Rural Mutual Insurance Co., Union Grove, WI

   Yes in some instances. To be able to purchase a life insurance policy on some else require an "insurable interest" and the permission of the person to be insured. Immediate family typically have an insurable interest on each other ( i.e. husband, wife, children, grandparents ). A company could also have an insurable interest in key employees. Contact a local agent to discuss your needs and wants in life insurance coverage and they can provide you with information on the policies that they would have available to fit your needs.

   Answered on September 17, 2013

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