Can You Take Out Life Insurance On Anyone? 
You can take out life insurance on anyone with whom you have an insurable interest . This can be established simply by being a close family member , in the US . However , financial insurable interest must exist even with these types of relationships , with most life insurance companies . E.g. . An adult child can take out a small policy on an aging parent because of the the emotional loss that would occur upon the death of the parent . But in order to take out a large policy there must usually be financial loss . I.e. . The adult child contributes financially to their parent and are using life insurance to offset that , or their parent contributes financially to them and they would suffer financial loss upon the death of that parent . 