Jayson Lowe explains how to buy life insurance on nieces and nephews: you need insurable interest, a legitimate financial reason. He got approval after a divorce created hardship, then showed the underwriter his plan and need for the policies.
What is your insurable interest on your nieces and nephews? Why can you buy insurance on them? That's a really good question. For me personally, just my own circumstance, I'm not speaking to everybody in general, that insurable interest was developed just as a result of a marriage dissolving and some financial hardship that was triggered as a result of that marriage dissolving and me just stepping in and explaining to the underwriter at the insurance company what the purpose of the placement of those policies would be if they would approve it. And they did.
