Can I take out a life insurance policy on a stranger?

>>hijack<<< Why are you taught to hate WM.

I don’t get this at all, it’s a store :confused:

I had quoted a paragraph from Keeton & Widiss, and insurance law treaty, but the hamsters ate it. Let me summarize:

  1. There will still be funeral costs. Should I buy life insurance on my child's life? | III

  2. Courts are willing to relax the insurable interest doctrine somewhat in the case of family members. By extension, they don’t strictly apply the principle of indemnity to family member-life insurance.

  3. In fact, life insurance, generally isn’t subject to the principle of indemnity, at least generally, in most states. If I’m the beneficiary of a $250,000 life insurance policy, I don’t have to prove up losses of $250,000 in order to recover full benefit. I just have to prove that the insured is dead.

  4. There were some issues, historically, with child life insurance.* It was sold door-to-door based on the funeral costs theory. Parents would buy it and pay premiums with money they could have spent on medical care and food.

*based on an insurance law lecture from long ago given by this guy Newsroom - The Source - Washington University in St. Louis . I could be misinformed or have it all jumbled up in my head.

Google
Wal-Mart sucks
and spent 15 minutes reading the results.

It’s complicated, and the answer is off-topic in this thread.

He sells t-shirts with the Pope’s face in one of those Ghostbusters-style red crossout circles. New pope = lots of unsellable inventory. :cool: