It is necessary to have an "insurable interest" in the life of the proposed insured. Stated otherwise, you need to have a "stake" in his/her continued life. That stake can be financial (such as a...
That depends on the life insurance policy. The policy must be one that builds cash value before a loan can be taken.
Simply, if the policy is a 'term life policy' it lasts for a defined period - 10...
Generally, no. You must have a valid reason for insurability. However, they could take out a policy and name you beneficiary...but then you wouldn't be strangers.
As a fan of Suze Orman, I listen for these little pieces of information. She recently told her audience that she has been wrong for many years to tell us that life insurance on a child is only a...