No, insurance policies are not limited to family members, but they are limited to persons where there is an "insurable interest". McCain (or Obama) isn't an insurable interest to me, or you, whether he is president or not. Unless you are related to or have certain kinds of business relationship with him, or the like, where his death would cause a pecuniary loss to you. And it has to be a fairly close, direct loss. While the death of a president would presumably affect everyone in the country financially in some degree, it's not what an insurance company would classify as an insurable interest.

If a member of my family dies, I have an insurable interest if I might be called on for funeral expenses, or if I'll be deprived of future income because of the loss of the family member.

If I own a corporation,and there's a key person whose death would cause operational and therefore financial problems to the corporation (and me as the owner), I or the corporation would have an insurable interest. That's called key-man insurance, and is very common.

If I'm a partner in a firm, I have an insurable interest in the life of each of the partners, and it's normal to take out a life insurance policy on a partner's life so that on his death there's money to buy out his interest in the partnership upon his death.

But I have no direct financial stake in the life of either of the candidates, or the life of any Mudcatter. Nor do you, unless you have some pecuniary relationship with the insured. This is just basic insurance law.   

Donuel's scheme, if meant seriously, just won't work.

Dave Oesterreich