Can You Take Out a Life Insurance Policy on Someone Else? Absolutely—Here’s How It Works
Can You Take Out a Life Insurance Policy on Someone Else?
Absolutely—Here’s How It Works
At InsureMango, we hear this question all the time:
“Can I take out a life insurance policy on someone else?”
The answer?
Yes—you can.
But like most good things in life, there are a few important guidelines to follow. And once you understand the process, it’s not just doable—it’s actually a smart financial move for many families and businesses.
Let’s break it down simply.
Yes, You Can—But You Need Two Things
To take out a life insurance policy on someone else, you’ll need:
Insurable interest
This just means you’d be financially impacted if something happened to that person. If they play a meaningful role in your life or business, there’s a good chance this applies.
Their consent
Life insurance isn’t something you can do secretly (and that’s a good thing). The person being insured must agree and typically sign off on the application.
Who Can You Insure?
Here are a few common examples where this works:
Spouses and partners – To protect income and shared responsibilities
Parents and children – For future planning and legacy protection
Business partners or key employees – To protect your company’s future
Anyone whose loss would impact you financially
If you’re unsure whether your relationship qualifies, we can help you figure that out in minutes.
Why Would You Want to?
There are several smart reasons to take out a policy on someone else:
Replace lost income
Cover shared debts or obligations
Secure your business if something happens to a partner
Ensure financial stability for your family or company
Think of it as financial peace of mind—delivered before you ever need it.
What You Can’t Do
You can’t insure someone just because you know them or wish you did. (Sorry, no life insurance policies on your favorite celebrity or your ex from college.)
Insurance companies are all about real relationships and real impact—not speculation.
Why People Choose InsureMango
At InsureMango, we make life insurance easy, friendly, and 100% above board. Whether you’re planning for your family, protecting your business, or looking out for someone who looks out for you—we’ll walk you through every step, answer every question, and help you make the best choice.
Let’s Talk About It
Curious if you can take out a policy on someone in your life?
Let’s have a quick conversation. No pressure, no jargon—just clear answers and honest guidance from people who care.
Call us at (888) 90-MANGO
We’ll help you protect what matters—because peace of mind isn’t just for someday. It’s for today.