In order to buy life insurance on another person the insurance company will require that you have an insurable interest in that person.

Insurable interest basically means you ely on the person for financial support, or you stand to lose out financially if the person were to die.

There does exist insurable interest between parents and their children, so you can buy life insurance for your mother.

However, in order to get life insurance on your mom, you may need her permission, signature on the ap...
Continue reading ...