Welcome to Quotacy’s Q&A Friday where we answer your life insurance questions. Quotacy is an online life insurance agency where you can get life insurance on your terms. I’m Jeanna and I’m Natasha. Today’s question is: can I buy life insurance on my boyfriend or girlfriend? Yes, you can buy life insurance on your boyfriend or girlfriend as long as you have their consent and insurable interest. We’ve talked about insurable interest before in other Q&As but as a reminder insurable interest exists when one person financially benefits from another being alive. For example, married couples have obvious insurable interest. They both live in the same house, contribute to bills, and may be raising children together. They each benefit from each other. They have insurable interest on one other. On the flipside, if you and your boyfriend or girlfriend don’t live together, don’t share any bills, aren’t engaged, or don’t have children, and you’re basically just dating, then you don’t have insurable interest on one other and most likely can’t buy life insurance on one another. But Americans are waiting longer to get married these days so it’s pretty common for unmarried couples to want to buy life insurance on each other. And it’s not required that you are married to buy life insurance on someone else as long as you have insurable interest and consent. Some common examples of insurable interest for unmarried couples are having a lease together, owning a home or business together, having debts together, like a car loan, or raising children together. And when you apply for life insurance on one another, on your application we recommend that you use the terms significant other or domestic partner instead of just boyfriend or girlfriend. We totally understand that you want to protect the person you love even if you aren’t joined by law and while owning life insurance on one another and being the beneficiary of these policies is one way there is an easier way. A simpler process would be to buy life insurance on yourself and name your significant other the beneficiary and vice versa. Life insurance companies are more concerned about people buying life insurance on other people rather than themselves. No matter which direction you choose we applaud you for wanting to financially protect your loved one from the what-ifs in life. Thanks for watching. If you have any questions about life insurance make sure to leave us a comment. And if you have any questions regarding today’s topic check out the blog link posted below. Otherwise, tune in next week when we talk about how being healthy saves you money on life insurance. Bye!