How to Buy Life Insurance for a Parent?

Can I buy life insurance for my parent?

Yes, you may be able to purchase a life insurance policy on one or both of your parents.

In order to do so you need their permission, signature o the application, and they may have to answer some health questions.

Insurers require insurable interest in the person you want to insure, which means you stand to lose financially if they die, or you rely on them for some means of financial support.

However, insurable interest does exist between parents and their children, so you can buy life insurance on your parents.

Some insurers may not require your parent’s signature in order to get life insurance.

Here’s an article that explains more about How to buy life insurance for a parent and where to get coverage.