Yes, you can purchase life insurance coverage on your parents.

You can buy a life insurance policy on anyone with whom you share an economic insurable interest, including your parents or spouse.

The parent or parents you wish to insure will  need to sign as the policy "Insured" on the application for life insurance coverage, and have to be mentally competent to do so.

In addition, your parents may need to answer some health questions, or take a medical exam to find out if they...

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You can name any person, business, or organization as your beneficiary who is a relative, a charity, and/or has an insurable interest (would suffer financial loss if you were to pass away).

You are not required to name your spouse as the beneficiary of a life insurance policy. 

You as the owner of the life insurance plan can choose who you wish to be the one who receives the death benefit from your life insurance policy. Learn more about the beneficiary of a life insurance pol...

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Yes, you can buy life insurance for your spouse.

In order to buy life insurance you need insurable interest in that person.

Insurable interest means you stand to lose financially if the person dies, or you rely on the person for some means of financial support.

There does exist insurable interest between spouses, so you can buy life insurance on your spouse.

However, you will need your spouse's permission/consent,your spouse's signature on the application, and your spouse may have to answer some ...
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