Can I Take A Life Insurance Policy Out On My Grandmother? 
As long as your grandparent qualifies to be insured and is willing to go along with the process , including application and medical underwriting , and gives you permission , yes . There must be an `` insurable interest '' for a person to take out a life insurance policy on another person , and relatives generally fit that description . Your grandmother must qualify by being of an insurable age , usually under 85 , in some cases 80 or younger . 