What is insurable interest in life insurance?

Insurable interest refers to when someone (called Person A) wants to buy life insurance on another person (Person B). In order for Person A to buy life insurance on Person B, there must be an emotional and financial loss to Person A if Person B dies. You can't buy life insurance on some random person.

Insurable interest does not apply to beneficiaries. You can name anyone as beneficiaries, whether they are related to you or not.

If you are planning to get an affordable life insurance, i recommend you visit the site below and get insurance quotes. The site will pull up comparable premiums between different insurance companies and show you the best quote.

http://www.goodinsurancepolicy.com