Can You Buy Life Insurance On Someone Else -

: Useful if you would be responsible for their final expenses or medical bills.

: To fund a "buy-sell agreement" or protect the company from the loss of a key executive ("Key Person Insurance"). can you buy life insurance on someone else

: As the policy owner, you are responsible for keeping the policy active. : Useful if you would be responsible for

: Discuss the policy with the person you wish to insure. : Discuss the policy with the person you wish to insure

: It is virtually impossible and often illegal to secretly buy life insurance on another adult. Forging a signature is a criminal act that can invalidate the policy.

: For adult insureds, the person must participate in the process. They typically must sign the application and may need to undergo a medical exam to determine eligibility. Common Eligible Relationships You can typically establish insurable interest for: