Yes. In order to buy any type of life insurance or burial insurance on another person you need to have the following:
- An Insurable Interest in the person you want to insure
- The Persons's Permission
- The Person's Signature on the Application for Insurance
Insurable Interest means you either rely on that person for some means of financial support, or you stand to lose financially should the person die.
For example, an adult child has insurable interest on his/her parents because he (she) may pay for the parents' final expenses upon their death.
Here's how to learn more about buying burial insurance for others.