To ensure the surviving partner can buy out the deceased partner's shares and keep the company running. 📋 Step-by-Step Buying Process Can You Take Out a Life Insurance Policy on Anyone? - Aflac

Sharing debts, mortgages, and household expenses naturally creates a financial link.

You cannot secretly buy a policy on another person; they must participate in the process. Here is exactly how to do it. 📌 The Two Non-Negotiable Rules

If you will be responsible for their final funeral expenses or are cosigned on their debts.

To legally buy a policy on another person, insurance companies require you to fulfill two conditions:

Because of the "insurable interest" rule, you can typically only buy life insurance for: