Can You Buy Life Insurance For Someone Else at Buying

Can You Buy Life Insurance For Someone Else. Before you buy, take a look at who you can insure and why. Getting life insurance for a terminally ill parent costs about $100 more than average.

You must have an insurable interest in that person, meaning their death would have a negative financial impact on your life. You can buy a life insurance policy on someone else, as long as they give legal consent and there is an obvious insurable interest. You can't buy life insurance for just anyone.

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But that doesn't mean you can only insure yourself. This means the money will go to the surviving partner. Compare and shop around to find the best rates before buying life. Before you buy, take a look at who you can insure and why.