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Is it possible to get life insurance as a beneficiary before the person insured dies?
The short answer is "No". There a 2 ways to get cash from a life insurance policy.  If the policy has cash value greater than the surrender value, then the difference can be borrowed, but will generally increase premiums in the future.   The other method, available on many term policies allows the owner to receive part of the death benefit if the insured has a physician willing to certify that he/she will probably pass away within a 12 month period.  Several carriers also offer cash benefits for critical care.