You
can buy a life insurance policy on your brother if you have an “insurable
interest” in his life.
This
could include being his custodian if he is not yet an adult, or handicapped,
being his business partner, being responsible for his outstanding debts, and
other scenarios.
It
would be challenging to think of an instance when you would be denied the
privilege of insuring your brother. Of course, your brother has to
cooperate. This means, he will need to answer some health questions, maybe take
a physical exam, and he will need to sign the application for coverage,
usually.
If
you rely on your brother for financial support, you co-own a business with him,
or he owes you money, you may want to consider buying life insurance on your
brother.
Here's how to buy life insurance today.
