In order to buy a life insurance on another person you need an insurable interest in the person you wish to insure for life insurance.
Insurable Interest basically means you either rely on the person for some means of financial support, or that you would suffer some financial loss upon the death of the person.
Insurable interest exists between spouses, parents and their children, business partners, and family members, among others.
For example, adult children may buy a life insurance policy on their parents to help pay for the parent's final expenses.
Learn more about who can buy life insurance on another person and how it works.