If you're considering buying life insurance you may be wondering - Who can you insure for life insurance?
Can you obtain a life insurance policy on some one other than your spouse or child?
Yes, you may be able to buy life insurance on a person who is not your spouse or child.
You can obtain life insurance on anyone with whom you have an insurable interest.
There must be an insurable interest for you to take out life insurance on another person.
One way to determine insurable interest is whether you rely on that person for financial support, or a living situation.
Each person has an insurable interest in his or her own life, and therefore can select anyone as a beneficiary. Examples of insurable interest include:
To be certain you may take out life insurance on a specific person, e-mail the insurance company you want to get coverage through and ask them to verify in writing (by e-mail) that you can take out a life insurance policy on the person you are interested in insuring.
To learn more about life insurance read this term life insurance explanation.
Top Pick – 1ClickCoverage
Compare the best life insurance quotes from our network of 70 leading life insurance companies in less than 2 minutes! Save up to 70%. Request your free quotes for life insurance.
Highly Recommended – National Life Group
Buy $25,000 to $350,000 of life insurance with no medical exam required. People age 20 to 60 may qualify for coverage. Rated "A" (Excellent) by AM Best for financial strength. National Life was founded in 1848. If approved, you may start your life insurance today. Get your free life insurance quote now.
Highly Recommended – United of Omaha
United of Omaha offers guaranteed acceptance whole life insurance for people age 45 to 85. Choose $3,000 up to $25,000 of coverage. Rates start as low as $8.80 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply online now. START HERE to get a FREE Quote.