Life Insurance for Parent?

Is it possible for an adult child to purchase a life insurance policy on his parent or both parents?

Yes, since adult children have an insurable interest in their parents, they may purchase life insurance on their parents.

Many people buy life insurance o their parent(s) to make sure there are funds available to pay for their parent's final expenses, including the cost of a funeral, burial and memorial service.

Today, the average cost of a funeral and related expenses may exceed $7,000.

There are even "guaranteed issue" life insurance plans available for seniors which means your parent cannot be turned down due to any health problems.

Here's how to get life insurance for your parent.