Life Insurance for Parent
Are You Wondering How to Buy Life Insurance for a Parent?
If so, it may be easier than you thought. Whether your parents are in the 60's, 70's or even age 80 or over, you may be able to buy life insurance for them.
In fact, you may buy life insurance on both of your parents.
And, you can get started by applying quickly and easily today with an "A+" rated life insurance company.
What Company Offers Affordable Life Insurance for Your Parents?
Top Pick – Mutual of Omaha
Mutual of Omaha offers guaranteed acceptance whole life insurance for people age 45 to 85. You can choose $2,000 up to $25,000 of coverage. Rates start as low as $8.84 per month. There’s no medical exam and no health questions. Your parents cannot be turned down due to any health problems. START HERE to get a FREE Quote.
- Your life insurance policy comes with a 30 day Risk-Free, Money-Back Guarantee
Why Buy Life Insurance on My Parent?
Many adult children purchase life insurance plans on their parents to help with the costs of their parent's final expenses.
If you buy life insurance on your parents you can name yourself as beneficiary of their life insurance policies.
And, you can use money from the life insurance policies to help pay for your parent’s burial, funeral, casket, memorial service and other final expenses.
In order to buy life insurance on another person you are required to have an "Insurable Interest" in the person you want to insure.
Insurable Interest exists between parents and their children, spouses, family members, and business partners, among others.
Basically, insurable interest means you stand to lose financially if the person you wish to insure dies, or you rely on that person for some means of financial support.
Since insurable interest does exist between parents and their children - YES you can buy life insurance on your parent, or both of your parents.
In order to purchase life insurance coverage on your parent or parents, you may or may not need the following:
- Your parent’s permission.
- Your parent’s signature on the application for life insurance.
- Your parent may need to answer some health questions.
However, there are some life insurance companies that may allow you to buy life insurance on your parent without your parent's knowledge.
One of the leading life insurance companies for senior citizens is United of Omaha.
Life Insurance Quotes for Your Parents
Top Pick – Mutual of Omaha
Mutual of Omaha offers guaranteed acceptance whole life insurance for people age 45 to 85. Choose $2,000 up to $25,000 of coverage. Rates start as low as $8.84 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply online now. START HERE to get a FREE Quote.
- Your life insurance policy comes with a 30 day Risk-Free, Money-Back Guarantee
Whole Life Insurance for Seniors
Disclosure: Compensated Affiliate