In fact, many parents insure the lives of their adult children for several different reasons, including but not limited to the following:
- To provide for final expenses.
- To repay college loans provided to their children.
- To provide funds for their grandchildren for college.
- To replace their adult child's income for the family of the adult child.
In order to buy life insurance on someone else you need an Insurable Interest in the person you wish to insure.
There does exist an insurable interest between parents and their adult children.
Learn more about how to insure your adult children for life insurance.