Yes, a parent may be able to purchase a life insurance policy on his or her adult child.
Parents have an insurable interest in their children and may buy life insurance on their lives.
When you are a grown adult, you may have taken a loan from your parent to pay for a new car, new home or college tuition, for example.
These are just a few of the reasons parents may buy life insurance on their adult children.
Or, to make sure their grandchildren have financial security in case the adult child cannot afford to buy life insurance when they have kids of their own.
Learn more about buying life insurance for your adult daughter.
No comments:
Post a Comment