Yes, you can take out life insurance on someone else if you have insurable interest in that person. That means that there is a financial tie between you. Either you would be hurt financially if they were to pass away (because they owed you money, because they help support you, etc), or you are helping them financially now and life insurance would pay you back for your financial loss upon their death.
Yes you can take life insurance out on someone else. As Peggy mentioned you need to have an insurable interest in them. In addition you need to their permission to insure them. An exception would be if you were insuring one of your minor children, where you do not need their permission.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
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If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.