Certainly, you should buy life insurance on somebody else as long as you can confirm an “insurable fascination” in that individual.
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Whole life insurance procedures generally Have got a surrender cost for the 1st ten-15 decades. This suggests if you decide to terminate your protection, you’ll have to shell out a payment, that's a percentage in the dollars value you’ve amassed.
A whole life insurance policy is a dear dedication, so ensure that you exploration and Assess procedures ahead of buying.
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