Can You Buy Life Insurance On Other People?

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   Chris Abrams

   Founder, Abrams Insurance Solutions, Inc., San Diego, CA

   You can buy life insurance on other people if there is an insurable interest and the other person is willing to sign the application as the insured.  An insurable interest means that the policy owner or beneficiary must stand to suffer a direct financial loss if the insured passes.  Examples of this are spouses, business partners and children/parents.
   

   Answered on June 1, 2013

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