Who Can You Insure for Life Insurance?

Who can you buy a life insurance policy on? You can buy life insurance on anyone that you have an insurable interest in, including but not limited to your spouse, family member, or business partner. Insurable interest is required by the life insurance companies in order to buy life insurance on another person. Basically, insurable interest in another person means you rely on someone for financial support, or that you may suffer financially if the other person were to die. For example, many people buy life insurance eon the parents who are seniors in order to have the money to pay for their parent's funeral and burial costs. In additino, to insurable interest, you will need the other person's permission, signature on the application, and the other person may need to answer some health questions. Learn more about who can you insure for life insurance?