I have a friend who is an avid motorcycle rider and who particularly enjoys driving while drunk. Can I take a out a large insurance policy on him? My odds of collecting are higher than the lottery!
To get insurance on someone you need an insurable interest. Typically a spouse or a dependent of the applicant would have lost something if he died has an insurable interest. Otherwise people could buy a policy on a guy and kill the insured. In any event, with AIDS etc. every insurance company underwrites every applicant for any significant amount of insurance -- and the guy would have to sign a medical form and take a physical and blood test, and may be uninsurable.
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