Can Someone Take Out A Life Insurance Policy On Me? 
Someone can take a life insurance policy out on you if : 1 -RRB- you have an insurable interest in their life , and 2 -RRB- you consent to having the policy placed . An insurable interest means that they would be harmed financially if you passed away because you provide for them in some way . People ca n't just pick out someone to insure and try to make a profit off of their death . Consenting to the policy means signing the application , agreeing to have your medical records reviewed if required , doing an exam or phone interview if ordered . Often when someone is taking out a policy on another , they will choose a No Exam policy . But that is totally up to the person being insured and the person taking out the policy , who is usually the policy owner . 