Can I buy term life insurance for my aunt who lives in CA?
Can I buy term life insurance for my aunt who lives in CA?
I live in Florida and was just wondering if I can purchase a term life insurance policy for my aunt in California? Will the term life insurance policy be in my name or her name, because I will be paying for the policy?
Best answer:
Answer by Romeo
I believe u can, you are able to purchase insurance on anybody you please. All u have to do is keep up with the payments and wait on them to die and you collect. It sounds bad and unmoral but you can do it. And people can already have insurance policies out on you and u don’t even know it. Isn’t that crazy?
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With her permission and cooperation, you can. It would be in your name, you would be the owner. You would pay the premiums. She would need to fill out the medical information, and submit to a medical exam.
You can, with her permission and cooperation.
You can pay the premiums and name yourself as the beneficiary and you will be the policyholder and in control of the policy.
Your aunt will have to consent and work with you. You will also have to prove insurable interest. You are not allowed to purchase life insurance on someone unless you can explain to the insurance company why you will be financially effected if she dies. With children and spouses this is usually not a problem. Proving why you need a life insurance policy on your aunt, in another state, that you have to pay for might be difficult unless there is a specific reason.