I thought immediate family members (those who have insurable interest) could purchase life apps on the other family members.
I know I was able to purchase a policy on my brother (a smallish one, $25,000 as a final expense plan) a few years ago, and he did not need to be involved with the purchase.
From reading through the forum, it seems the insured has to be able to sign the app?
What about adult children obtaining policies on the parent, so they don't get a nice surprise of a bill later?
Is this a carrier or state specific provision?
Thanks to anyone who can clear this up for me.
I know I was able to purchase a policy on my brother (a smallish one, $25,000 as a final expense plan) a few years ago, and he did not need to be involved with the purchase.
From reading through the forum, it seems the insured has to be able to sign the app?
What about adult children obtaining policies on the parent, so they don't get a nice surprise of a bill later?
Is this a carrier or state specific provision?
Thanks to anyone who can clear this up for me.