Life Insurance for Siblings

If you have a brother or sister and you want to get life insurance for your sibling, you can. However, you need to show an insurable interest to the insurance company before they will sign off on any policy. Read more to find out how you can get the best life insurance rates for siblings and other family members.

Ready to compare quick life insurance quotes?

Your life insurance quotes are always free.

 Secured with SHA-256 Encryption

Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

Full Bio →

Written by

Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

Full Bio →

Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Dec 14, 2020

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

Quick Facts

  • It is possible to buy life insurance on your brother, sister, or other family member.
  • You will have to demonstrate you have an insurable interest before you can secure life insurance on someone else.
  • You’ll need to get consent before taking out a life insurance policy on someone else.

Buying life insurance is typically a straightforward process. However, maybe you are interested in purchasing a life insurance policy for your sibling or another family member.

If you are wondering about life insurance for siblings, you may have also asked yourself, is there such a thing as family life insurance? What are the types of term life insurance?

You may be wondering how to take out a life insurance policy on someone else. It is possible, but you will need to demonstrate to the insurance company you have an interest that requires insurance.

You can get life insurance for siblings. However, it is not as simple as getting a life insurance policy for yourself. Let’s take a closer look.

When you’re ready to start comparing affordable life insurance quotes for siblings in your area, enter your ZIP code above.

How do you take out a life insurance policy on a family member?

You can purchase a life insurance policy on a sibling in certain circumstances, but you cannot buy a life insurance policy on your sibling just because you have one.

The first thing you will need to do to buy life insurance on a sibling is to demonstrate an insurable interest. What is an insurable interest? Life insurance companies define this as a financial loss due to the untimely passing of the person you are trying to insure.

If you are financially dependent on your sibling, you shouldn’t have too hard of a time showing an insurable interest to the insurance company and therefore, life insurance for your siblings should not be hard to find.

If you receive regular payments and a significant portion of your income from your brother or sister, you will have little trouble getting life insurnace on them.

The next thing you need to ask yourself is how much life insurance do you need to buy?

Can I get a life insurance policy on a sibling if I am not financially dependent on them?

The short answer is yes. There are still situations that may arise where you have an insurable interest even if you are not financially dependent on your sibling.

For example, let’s say your sibling has children, and in the case of your sibling’s death, care of these children will come to you. In this case, despite the fact that you are not financially dependent on your sibling, you still have an insurable interest.

Life insurance is not intended to provide beneficiaries with profit. The intention of life insurance is to avoid or remedy financial loss. If you can demonstrate potential for financial loss in the event of your sibling’s death, you have an insurable interest.

Ready to compare quick life insurance quotes?

Your life insurance quotes are always free.

 Secured with SHA-256 Encryption

Do I need my sibling’s permission to get life insurance on them?

You need to obtain your sibling’s permission or consent to get a life insurance policy on them. When it comes to more traditional life insurance policies, your sibling will have to complete a medical exam. In these cases, consent is implied by the willingness to do an exam. Consent papers are also signed on the application.

However, if you are trying to get a no medical exam life insurance policy or a final expense policy, the consent process will look a lot different. For one, each life insurance company will have their own processes for verifying consent.

Commonly, they will verify consent over the phone and record it, or they may require your sibling to initially be the owner of the policy. Some insurance companies will require the person you are trying to insure to make the first premium payment.

Every life insurance company treats these situations differently. Depending on what type of policy you want and how much coverage you are looking for, the insurance company will have different consent requirements.

What are the best life insurance policies for siblings?

The best advice you can get is to shop around. Every insurance company is different. Compare quotes from a number of different providers before you make a final choice.

Make sure to check the best life insurers before making a choice. See the table below.

Average Monthly Life Insurance Rates by the Top Companies
CompaniesAverage Monthly Life Insurance RatesA.M. Best Rating
Banner Life$9A+
Principal$9A+
Protective$9A+
Guardian Life$10A++
MassMutual$10A++
Haven Life$11A++
New York Life$11A++
John Hancock$11A+
Mutual of Omaha$12A+
Nationwide$13A+
State Farm$15A++
Allstate$15A+
Prudential$16A+
Northwestern MutualN/AA++
Pacific LifeN/AA+
PrimericaN/AA+
Get Your Rates Quote Now

Compare RatesStart Now →

Life insurance for siblings and other family members is not too hard to come by, but it will be more work than getting a life insurance policy for yourself. Have a conversation with the person you want to insure, and talk about what is best for your family.

Ready to buy life insurance for siblings? When you are ready to start comparing life insurance quotes in your local area, enter your ZIP code below to get the best rates.

Ready to compare quick life insurance quotes?

Your life insurance quotes are always free.

 Secured with SHA-256 Encryption

QuickQuote is a BBB Accredited Business. QuickQuote Financial, Inc. BBB Business Review