How To Buy Other Peoples Life Insurance Policies? 
Great question ! Let 's start off first with a couple of important basics . You have to have what the insurance company calls `` an insurable interest '' in the person that you want the policy for . That means that if that person were to pass away , you would suffer some form of measurable loss . For example , if your spouse were to pass away , you would be left with less income , and more hardship . You can buy insurance for your spouse . The guy down the street that you see once in a while , you would suffer no loss from , so you would not be able to purchase a policy for him . You also need that person 's cooperation and consent . They will be required to sign the application , and must be aware and understanding of what is happening , and in agreement . I would recommend that if you are n't familiar with the process , that you find a good agent and walk through the process completely first , as there are a lot of different products out there to choose from , and not all will be good fits for you . If you would like some help , I 'd be happy to , just contact me . Thanks for asking ! 