+25 Can I Buy Life Insurance On Someone Else Ideas. Web while you can’t take out a life insurance policy on just anyone, you can take one out on others in your life with their permission. One of which is that you’ll need to prove you have an insurable interest in the insured person before the life insurance company will approve the application.
Usually, people purchase life insurance policies for themselves to provide their loved ones with financial support after passing away. But to do so, certain criteria must be met. For a policy to become active, the insured must sign for the policy and verify their medical information.
