Can I Buy Life Insurance For My Grandmother? 
It is n't clear if you mean paying premiums for a new policy for your grandmother where she will own and be the insured of the policy or if you mean to take out life insurance on her life but be the premium payor , owner and beneficiary . In the former , if she is insurable , she can have a policy on her life and you can pay premiums which would be gifts to her . This can be done . In the latter , it is permitted under the rules of insurable interest as long as she is insurable and consents to the insurance . 