Section 743.038 - Consent of individual required for life and health insurance; exceptions A life or health insurance policy upon an individual, except a policy of group life insurance or of group or blanket health insurance, may not be made or effectuated unless at the time of the making of the policy the individual insured, being of competent legal capacity to contract, applies therefor or has consented thereto in writing, except in the following cases:
(1) A spouse may effectuate such insurance upon the other spouse.(2) Any person having an insurable interest in the life of a minor, or any person upon whom a minor is dependent for support and maintenance, may effectuate insurance upon the life of or pertaining to such minor.(3) Family policies may be issued insuring any two or more members of a family on an application signed by either parent, a stepparent or a spouse in a marriage.(4) A person may effectuate insurance that provides for the funeral expenses of an adult who is dependent upon the person for support and maintenance.(5) A person may effectuate insurance that provides for the funeral expenses of an adult if the person: (a) Is closely related to the adult by blood or by law or has a substantial interest in the adult engendered by love and affection; and(b) Has a lawful and substantial interest in having the life, health and bodily safety of the adult continue.