In order for someone else to purchase a life insurance policy insuring your life, they would need:
Insurable interest means the person who wants to insure your life either relies on you for some means of financial support, or that person would suffer some financial loss upon your death.
Usually, insurable interest exists between spouse, siblings, parents and their adult children, some relatives, life partners, and business partners, among others.
Find out more about if someone can get life insurance on you.
- Insurable Interest in You.
- Your permission.
- Your signature on the application for life insurance.
Insurable interest means the person who wants to insure your life either relies on you for some means of financial support, or that person would suffer some financial loss upon your death.
Usually, insurable interest exists between spouse, siblings, parents and their adult children, some relatives, life partners, and business partners, among others.
Find out more about if someone can get life insurance on you.
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