Can daughters buy life insurance on their father?
Yes. As long as there exists an Insurable Interest between two parties, they can buy life insurance. For instance, there is insurable interest between spouses, parents and their children, and relatives. A daughter may purchase life insurance on her father.
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Yes You may buy term life insurance. You can compare rates and plans online from a life insurance quote service. Or, you may want to contact a life insurance agent in your area to request free quotes for term life insurance and learn more. Term life insurance provides temporary life insurance protection for 1-30 years, usually.
Yes, your mother can buy a life insurance policy on you because she has an insurable interest in you. And, you can buy a life insurance policy because everyone has an insurable interest in their own life. However, your mother may need your permission and your signature on the application for life insurance that she purchases with you as the insured person.
How can you buy life insurance for your brother who can not afford it if he has children who would need this insurance to cover their expenses?
Yes, you can buy life insurance on your sibling. A brother and sister have insurable interest in each other because of blood or marriage. Therefore, siblings can buy life insurance on each other because there is an insurable interest in one another. An insurable interest must exist at the time the life insurance contract is purchased, not necessarily at the time of loss.