AI responses may include mistakes. For financial advice, consult a professional. Learn more Can You Take Out a Life Insurance Policy on Anyone? - Aflac
Yes, you can legally buy life insurance on someone else, but only if you meet two specific legal requirements: and consent . Key Requirements can you buy life insurance on someone else
: You must prove that you would suffer a legitimate financial loss or hardship if the person died. This prevents people from "gambling" on the lives of strangers. AI responses may include mistakes
: To fund a "buy-sell agreement" or protect the company from the loss of a key executive ("Key Person Insurance"). - Aflac Yes, you can legally buy life
: As the policy owner, you are responsible for keeping the policy active.
: Because you share debts, income, and household responsibilities.
: Both you (as the owner) and the insured person must sign the paperwork.