Can I buy life insurance for my ill parent?

Yes, an adult child may purchase life insurance on his/her parent, because the adult child has an insurable interest in his/her parent.

If your parent is ill, there are Guaranteed Issue life insurance plans available for people between the ages of 45 to 85 years old.

Guaranteed Issue means your parent cannot be turned down for coverage due to his or her health.

As long as your parent meets the age requirement, you may purchase life insurance on an ill p...