My father does not have a life insurance policy, as he believes that it is just something to make relatives fight over after a loved one has passed. I would like to take out a policy on him in order to cover his funeral expenses. Illinois It is extremely difficult to take out an insurance policy on another person's life without that person knowing.
Different states have different views on insurable interest.
Generally, blood relatives and spouses are considered to have insurable interest, but it's not guaranteed. Second, most life insurance policies require the insured person to take a medical exam before the insurer will issue a policy. There are guaranteed issue life insurance policies that do not require medical exams, but these are quite expensive, and a company might be unwilling to sell you a policy on your father's life without his consent. If you are looking to cover final expenses and nothing else, you might discuss with your father the possibility of funeral insurance. The death benefit is set aside for cost of the funeral, not for family members, so there's limited potential for family arguments over the money.