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Can I take out a life insurance policy on another family member? If so can I get one from more then one company?

West Palm Beach, FL |

I love my parent's to death! But what happens when they do kick the bucket? Will I be stuck with the debts, mortgage, and funeral billing? Would they have to sign the policy if I can take out a policy on both of them?

Attorney Answers 3


  1. You have no reason to need to take policies out on your parents as you are not responsible for their debts. If you are worried about them "kicking the bucket", perhaps you can have a talk with them and discuss this in an adult manner, with compassion and seriousness.

    This information is a general answer and is not specific to any particular case. Carin Manders Constantine, Esq. 727-456-0032/ 727-488-8272 familylawyer411.com/about-carin https://www.facebook.com/pages/The-Law-Offices-of-Carin-M-Constantine/125967577416313 http://www.linkedin.com/pub/carin-constantine/b/861/445


  2. You cant take out a policy on their life unless you have an "insurable interest". Just being a loving son does not create an insurable interest. As the first responding lawyer said, I cant see how you would be responsible for their personal obligations. On the other hand, they can take out a life insurance policy to cover their funeral expenses, etc. They can also make you a beneficiary on the policy. That is entirely different then you taking out a policy on them. You may want to consult with a probate, or elder care lawyer if you are concerned with being obligated for their expenses and how to provide for funeral costs.

    This answer is a public service and not an attempt to solicit business. Jonathan Groff’s practice is devoted to all aspects of personal injury litigation throughout Florida. He has a “10.0 Superb” rating from AVVO and is rated “AV Preeminent” by Martindale-Hubbell. However, this reply should NOT be considered a legal opinion of your case / inquiry. At this time I do not have sufficient factual/legal documentation to give a complete answer to your question and there may be more to the issues you raise then I have set out in my brief reply. Further, unless your matter concerns Florida law, I am not licensed to practice or give specific legal advice in your state.


  3. The other attorneys are correct. You are not responsible for their debts. If you are that concerned about their (your) financial situation, why don't you address it with them, instead of on a message forum? Seems like they would be able to address their individual estate planning better than you. Just a thought.

    Bill Rosenfelt 407-462-8787 (Orlando/Longwood/Central Florida)

    Please be advised that any answers or information disseminated above do not constitute legal advice and that the attorney responsible for this posting is merely attempting to participate in a Q & A session intended to be helpful but certainly not intended to be legal advice. It is important that you understand that no attorney-client relationship has been formed and that the attorney has no obligation to follow up with you with your legal issue unless you separately contact said attorney and arrange for him to legally represent you.

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