How to Buy Funeral Insurance for Your Parents
Are You Wondering How to Buy Funeral Insurance for Your Parents?
If so, it may be easier than you think.
Actually, in order to buy life insurance or funeral insurance on your parents, you may need the following:
- Your parent’s permission.
- Your parent’s signature on the application for life insurance.
However, there are some life insurance companies that may allow you to buy funeral life insurance on your parents without notifying 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
In addition, in order to buy funeral 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.
Insurable interest does exist between parents and their children - YES you can buy life insurance on your parent, or both of your parents.
Why Buy Funeral Insurance on My Parents?
If you buy life insurance on your parent 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.
What Companies offer Funeral Insurance for Parents?
There are many life insurance companies that offer senior funeral insurance plans you can purchase on your parents.
Among some of the better-known life insurers for seniors are Mutual of Omaha, Colonial Penn, and AARP/New York Life.
Funeral 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
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Disclosure: Compensated Affiliate