Yes, it is possible to buy life insurance on your parents.
One requirement in order to buy life insurance on another person is called "Insurable Interest".
There must exist an insurable interest between the owner of the life insurance policy and the insured person.
An insurable interest exists between spouses, parents and their children, siblings, and business partners.
When applying for life insurance on your parents, they ma be required to answer some health questions, take a physical exam, and sign the application for coverage.
There are senior no exam life insurance plans that allow you to get a quote, apply online and purchase a policy without any medical exam required.
One way to buy life insurance on your parents is to compare life insurance quotes online to help you find the most affordable life insurance plan.
In addition, if you only need a small amount of life insurance to provide for final expenses, burial, and other related costs, you may want to consider Globe Life.
Globe Life Insurance offers people age 78 and under up to $30,000 of simplified life insurance with no medical exam required. You can get a quote and apply online for coverage for both of your parents.
Make sure you know how much life insurance you need, what you can afford to pay, and compare plans to help you save money.
In addition, the financial rating of the insurers is usually provided with your free quotes. The higher the rating, the more financially secure the insurance company.
Insurance without any Medical Exam,
Just a Few Health Questions.
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