Yes, you may be able to buy a life insurance policy on someone who is dying.
First, in order to buy life insurance on someone else, you need their permission, and their signature on the application for coverage.
In addition, in order to buy life insurance on someone who is dying, the only plan available would be guaranteed acceptance life insurance.
These plans guarantee approval for coverage for anyone who meets the age requirement; for example, ages 45 to 85.
These plans are available with no health exam needed, and no medical questions asked.
If you meet the age requirement, you are guaranteed approval.
However, the death benefits are limited the first 2 years the person is insured. If the insured dies within two years of starting the coverage, the premiums are returned with a certain percentage of interest on those premiums.
However, if the insured dies more than 2 years after starting the life insurance policy, the full death benefit is paid out.
To learn more, read this article --> Can You Buy Life Insurance For Someone Who Is Dying?
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