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can I purchase a life insurance on anyone

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asked Sep 12, 2014 in Life Insurance by anonymous
   

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No, you can't get life insurance on a stranger or acquaintance. In order to insure someone there needs to be an insurable interest. A spouse or a minor child are automatically assumed to have an insurable interest. Other examples of people with an insurable interest would be business partners, co-owners of a home or a debtor.
answered May 27, 2015 by mtooker Novice (180 points)

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