How To Buy Other Peoples Life Insurance?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    There is a secondary market that will buy and sell existing life insurance policies.  The test of “insurable interest” only exists at the inception of the policy.  If you buy a policy on the life of someone you do not know, your interest would be speculative, trusting that the insured would die sooner rather than later.
    Answered on March 6, 2014
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