Can I get life insurance for another person? -

Can I get life insurance for another person? Like, let's say I think Fidel Castro is going to die soon. Can I get a life insurance policy on his life so when he croaks I make some money? That would be kind of funny, in a morbid way. Only if you have an insurable interest. You can insure them in some rare circumstances without their knowledge if you can prove by contract that you have an insurable interest: http://www.piu.org/confidential_life_ins... Citizen's of other countries can only be insured on US paper if they own a business or have over $250000 of investable assets in the States. Political figures would also have to go through extra scrutiny because of Anti-Money Laundering legislation. Other than that, this would work. In fact, there are some people who convince folks age 30-40 to buy a life insurance policy on their own parents as part of their retirement program. The numbers often look pretty good, but there is a moral problem many see. Hope that satisfies your curiosity. eh, No... that person has to life insure themself, with someone as a benefictary. probably not you if Fidel Castro dies anytime soon! So sorry! No. You would have to prove an insurable interest. For example, you would have an insurable interest in a business partner, spouse, or some other valid reason to have a life insurance policy on that person. Also, you can't get life insurance on anyone without their knowledge or permission. Gee I wish you could do that.... I would be rich! No you have to have a vested interested. The purpose of insurance is to insure something called "Pure Risk". In english this means that you have a risk of loss with no personal gain. The senerio you presented is what they commonly call is "speculative" risk which by text book insurance 101 is uninsurable. The key to life insurance is that you must prove insurable risk at time of application. So in theory, you must rely on Mr. Castro financially in one way or the other when the application for insurance is made. While I agree that your scenerio bears better odds then the lottery ; it will experience massive hurdles when it comes to underwriting. Yes, with their permission and cooperation. Also, most insurance companies will require you to have some kind of insurable interest. Regarding Castro, LOL, I don't know ANYONE who would insure one of the most hated dictators of all times, but hey. Good luck surviving getting permission from him.