Can you buy a life insurance policy on someone else?

HAVEN LIFE | April 3, 2018

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We’ve all seen this story in a movie. A character dies mysteriously, and while investigating, the police discover that someone close to the deceased recently took out a life insurance policy on them. It’s an open-and-shut plot device in a crime flick, but in real life, you can’t go around buying life insurance on just anybody. In fact, usually, the only person you can insure is yourself. That’s not to say applying for life insurance isn’t a team sport. In fact, it’s probably a best practice to work together with a loved one and seek input as you search for the right coverage.

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