Can You Purchase Life Insurance On Anyone?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaYou cannot purchase life insurance on just anyone. You and the insured have to establish an insurable interest between each other and justify the face amount. How will this person’s demise affect you financially? What future obligations will not be met by this person’s demise that will affect you in the future?Answered on July 1, 2013+01+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.No, to purchase a life insurance policy on someone, they must be a close relative or you must have an insurable interest in that person. The person must consent to you taking the policy on them, sign the application, and take the exam or do the phone interview required.Answered on July 2, 2013flag this answer
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNNo you cannot purchase life insurance on anyone. There must be an "insurable interest" in order to purchase any type of life insurance. Whether it is to insure repaying debt for loved ones, replacing income or repaying a company for being a key employee or partner. There must be a reason and a relationship that would financially suffer at the loss of a life.Answered on July 29, 2014flag this answer
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