Can You Purchase Life Insurance On Someone Else?

1. 

   61667 POINTS

   view profile
   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   To purchase life insurance on someone else, you need to establish insurable interest between you, as the beneficiary, and the policy insured. You'll also need to justify the face amount of coverage with financial documentation. But most importantly, you need the potential policy insured's written permission on the application.

   Answered on August 20, 2013

   flag this answer
Did you find these answers helpful?
Yes
No
Go!

Add Your Answer To This Question

You must be logged in to add your answer.