Burial Insurance for Siblings?

Can I buy burial insurance coverage for my siblings?

Yes, adults with siblings may purchase burial insurance coverage on their siblings.

In order to buy a burial insurance policy on another person you'll need Insurable Interest in that person, and the person's permission, usually - however, that depends on the life insurance company requirements.

Insurable Interest means you either rely on the person for some means of financial support or that you may suffer a financial loss if the person were to die.

For example, if you loaned your sister money and she died before it was paid back, you would lose that money you loaned.

Or, if you had to pay for your brother's burial because he didn't have enough money saved to cover the full cost of his final expenses.

Here's how to learn more about buying burial insurance on your siblings.