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Is it possible to get a life insurance policy for another person?

Life insurance companies are customer focused, so they provide services that allow take out policies for other people. However, to do so, the consent of the insured person is usually required. The second option is to be their legal representative, writes Bankrate.
Is it possible to get a life insurance policy for another person?

It is not possible to take out a life insurance policy for a public figure or an athlete involved in high-risk sports.

When applying for a life insurance policy for another person, you will be the insurant, and the insured person will be the person for whom you want to issue a policy.

Usually, when taking out a life insurance policy for another person, it is necessary to provide certain information about the insured person, such as their name, date of birth, contact information, etc. It may also be necessary to undergo a medical examination or answer questions about the health of the insured person, since the state of health may affect the cost of the policy or the conditions of its conclusion.

However, the rules and requirements may vary depending on the country and particular insurance company. Therefore, before issuing a life insurance policy for another person, it is recommended to contact an insurance agent or the insurance company directly in order to obtain detailed information about the requirements and procedure for issuing a policy.

Source: https://www.bankrate.com/insurance/life-insurance/can-you-take-a-policy-out-on-anyone/

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