Can You Buy Life Insurance On Someone Else -

: Parents can often buy policies for minor children without the child's signature to protect their future insurability.

: To fund a "buy-sell agreement" or protect the company from the loss of a key executive ("Key Person Insurance"). can you buy life insurance on someone else

: Both you (as the owner) and the insured person must sign the paperwork. : Parents can often buy policies for minor

: Useful if you would be responsible for their final expenses or medical bills. can you buy life insurance on someone else

Yes, you can legally buy life insurance on someone else, but only if you meet two specific legal requirements: and consent . Key Requirements

: The insured person provides health history and may take a medical exam .