: Because you share debts, income, and household responsibilities.
: As the policy owner, you are responsible for keeping the policy active. can you buy life insurance on someone else
: The insured person provides health history and may take a medical exam . : Because you share debts, income, and household
: Discuss the policy with the person you wish to insure. : Because you share debts
: It is virtually impossible and often illegal to secretly buy life insurance on another adult. Forging a signature is a criminal act that can invalidate the policy.
: 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.
: Both you (as the owner) and the insured person must sign the paperwork.