President, Lane Independent Agency, Southern California
Yes you can, if you if you have an insurable interest in him. This means is there some financial consideration or connection between the two of you. This is necessary in order to obtain this insurance and you must also inform your brother that you are doing it. Thank you. GARY LANE.
That is a great question! You absolutely can, provided that you can do two things - have his consent, and signatures on the application; and be able to show that there is an insurable reason for wanting him to be covered. As he's your brother, neither of those should be a problem. Thanks for asking!
If you and your brother are buying a business together, or live together, or have some other financial connection where his death would cause you financial harm, then you can take out life insurance on your brother. You could also take out a small final expense policy on him if he would rely on you to take care of his affairs if he would die.
If you are unsure whether there is sufficient financial consideration for you to buy a life insurance policy on your brother, you can call an insurance website or agency to find out. You don't need to go through the whole application process, first. These things can be determined ahead of time.
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If you are unsure whether there is sufficient financial consideration for you to buy a life insurance policy on your brother, you can call an insurance website or agency to find out. You don't need to go through the whole application process, first. These things can be determined ahead of time.