Can I buy life insurance for my parents?

Yes. if you are an adult, you may purchase life insurance on your parent or parents.

Many adult children choose to purchase life insurance on their parents so there are funds available to pay for the final expenses for their parents.

And, even if your parents have pre-existing health issues, they can get insured with guaranteed issue life insurance coverage.

You can purchase life insurance on your parents, pay the premiums, and name yourself as the benefic...

You can purchase life insurance for your parents since you have an "insurable interest" in your parents.

Some of the more common reasons adult children buy life insurance on their parents are for estate preservation or to take care of final expenses foe your parents.

You can also be the premium-payer, and as the owner of the life insurance policy, you can choose who is the beneficiary, and change it at any time. Typically, death proceeds are paid out free from taxes and avoid...

Yes, you can buy life insurance for your parents, but there are some requirements in order to purchase life insurance on your parents.

1. If you are going to own the life insurance policy for your parents, you can get a small life insurance policy to be used on final expenses. If you want to own a policy on them for a larger amount of coverage, you must show that you contribute to their lives financially, that you would suffer some financial loss if they were to die, for exa...