How To Buy Life Insurance For Someone | Else

You must prove that you would suffer a direct financial loss or severe hardship if that person passes away.

Because of the "insurable interest" rule, you can typically only buy life insurance for:

If you will be responsible for their final funeral expenses or are cosigned on their debts.

You cannot secretly buy a policy on another person; they must participate in the process. Here is exactly how to do it. 📌 The Two Non-Negotiable Rules

Parents often buy policies for children to lock in low rates or protect their future insurability.