Can You Get Life Insurance On Anyone?

Shawn Plummer

CEO, The Annuity Expert

Eligibility for Life Insurance

Primary Factors for Insurability

  1. Consent: You cannot buy life insurance on someone without their knowledge and consent. The person must be aware of and agree to the insurance policy.
  2. Insurable Interest: You must prove that you would suffer financially if the person dies. This is common in family relationships or business partnerships.

Common Scenarios

  1. Family Members: It’s typical to get life insurance on spouses or children, as their loss would impact you financially and emotionally.
  2. Business Partners: In a business setting, partners often take out life insurance on each other to protect the business’s financial stability.
  • A wife purchasing a policy on her husband due to shared financial responsibilities.
  • A business owner insuring a vital employee whose loss would financially impact the business.

Legal Restrictions On Purchasing Life Insurance

  1. No Insurance on Strangers: You can’t insure someone with whom you have no emotional or financial connection.
  2. Age and Health Considerations: The person’s age and health will affect eligibility and policy costs.

Related Reading: Can I buy life insurance for someone who is dying

Life Insurance Eligibility Criteria

CriteriaDescriptionExample Scenario
ConsentThe person must agree to the policy.A parent insuring a child.
Insurable InterestProof of financial impact if the person dies.A business partner’s policy.
RelationshipClose family or business relationships.Spouse or business partner.
Legal ConsiderationsAdherence to legal and ethical standards.Not insuring strangers.


Understanding who you can insure and under what conditions is crucial for life insurance. It’s essential to consider consent, insurable interest, and legal guidelines. Knowing these factors ensures that you make informed decisions about life insurance policies.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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