Can You Buy Burial Insurance on Someone Else?
Can You Buy Burial Insurance on Someone Else?
Yes, you can buy a burial policy on another person if you have an insurable interest in the person you want to insure. If so, you may be able to apply for burial life insurance online today.
Insurable interest means you rely on the person for financial support of some kind, or you would suffer financially if the person were to die.
For instance, an adult child has an insurable interest in a parent because the child may be the one paying for the parent’s burial and funeral costs.
You may have an insurable interest in your parents, spouse, siblings, children, family member, or business partner, among others.
For example, a senior adult may buy burial insurance for siblings, or an adult child may buy coverage for his or her senior 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
What is Required to Buy Burial Insurance on Another Person?
In order to buy a life insurance policy for burial costs you may need the insured’s permission, signature on the application, and the insured person may have to answer some health questions.
However, some insurance companies may not require the insured to be notified about the life insurance policy.
How Much Does a Burial Cost?
The premium you pay for burial insurance on another person will depend on the person’s age, health, and the amount of burial life insurance needed. Some plans may start at around $10 (or more) per month. Request a FREE Quote.
Can I Buy Burial Insurance Online?
Yes, you may be able to buy your life insurance plan for burial costs online.
Are You Wondering If You Can Buy Burial Insurance for Someone Else?
If so, it may be easier than you thought.
Actually, in order to buy burial insurance on your another person, you may need the following:
1. The person’s permission.
2. The person’s signature on the application for life insurance.
3. Your person may need to answer some health questions.
However, there are some life insurance companies that may allow you to buy burial life insurance plans on another person without notifying that person.
In addition, in order to buy life insurance for burial expenses 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.
Insurable interest does exist between parents and their children - so you can buy life insurance for burial costs on your parent, or both of your parents.
Why Buy Burial Insurance on Someone Else?
If you buy burial life insurance on your parent (or someone else) you can name yourself as beneficiary of the life insurance policy. And, you can use some of the money from the life insurance policy to help pay for your parent’s burial, funeral, and other final expenses.
Burial Insurance Quotes
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
Frequently Asked Questions:
- Can I Buy Life Insurance for a Sick Parent?
- Can I Buy Burial Insurance on My Grandmother?
- Can I Buy Life Insurance on My Adult Children?
- Can I Get Burial Insurance on My Grandfather?
Can You Buy Burial Insurance on Someone Else?
Burial Insurance for My Parents
Disclosure: Compensated Affiliate