However, there are some rules usually required by the insurance company in order to get coverage on your parent.
- Only adult children can buy life insurance on parents.
- You need your parent's permission.
- Your parent may be required to sign the application.
The signature requirement may vary by insurer, and some insurers offer electronic signature, which means the application can be completed and signed online.
Many adult children purchase life insurance on a parent to help cover the cost of the parent's funeral, burial, and other final expenses.
Here's how an adult child can buy life insurance on a parent.