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Five Reasons Which Are Not a Reason For Buying Life Insurance on the Life of Someone Else One question that many people have asked is which of these is not a reason for buying life insurance, and the answer to this question might surprise you. You see, before we answer that question we need to first explain what life insurance is. So, let us begin by answering the question: "What is life insurance?" Life insurance is a contract between an individual or an institution and the person that they