Can You Take Out a Life Insurance Policy on Someone Else?
It's possible to take out a life insurance policy on someone else, but you must meet specific conditions: obtaining the person's consent and proving insurable interest.
Updated: February 26, 2024
Advertising & Editorial Disclosure
About Mandy Sleight
Mandy Sleight is a licensed property, casualty, life and health insurance agent with 20 years of experience in the industry. She has worked for major insurance companies like State Farm and Nationwide, and most recently as the Operations Coordinator for a startup employee benefits company.
Sleight holds a business administration and management degree from the University of Baltimore and a master's in business administration from Southern New Hampshire University. She uses her vast knowledge of insurance and personal finance to create easy-to-understand and engaging content to help readers make smarter choices with their budgets and finances.