Yes, you can purchase life insurance on your parents.

Many children buy life insurance on their parents to help pay for final expenses; such as, funeral and burial costs which may add up to as much as $7,500 or more per parent. A study of Funeral Director's indicates the average cost of a funeral to be around $7,750.

In order for someone to buy life insurance on another person there must exist insurable interest. This means you either rely on the person you want to insure for money, or you woul...
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Is it possible for me to buy life insurance on my parents?

Yes, you may be able to buy life insurance for your parent.

In order for one person to buy a life insurance policy on another person there must exist "Insurable Interest" in that person. This means you rely on the person for some financial support, or you would suffer financially if the person were to pass away.

Insurable Interest does exist between parents and their children so you can buy life insurance on your parents.

Many children ma...
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Yes you can buy life insurance on your parents. You'll need to justify the amount life insurance on your parents, and you will need their signature on the application acknowledging them as the insured on the life insurance policy.

Life insurance on parents is an under utilized financial tactic for the next generation's economic benefit.

If you buy life insurance on your parents, they are the insured’s, and you are the owner of the policy and you pay the premiums. You wou...

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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...

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