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Can I buy Life Insurance for my spouse and children?

Yes, you can take out a policy on your spouse or children because you have an "insurable interest" in their life. You can proceed by getting life insurance quotes for a policy using their gender, date of birth, and desired coverage amount.

Note: They may need to undergo a life insurance medical exam. As well, you can be the policy owner (meaning you're responsible for the payments and can make changes to the policy) and you can list yourself as the beneficiary.

More Life FAQs

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