Yes, parents have an insurable interest in their own children and can buy life insurance on those children.
Many parents purchase life insurance on their adult children fo a number of different reasons, including but not limited to the following:
- To pay for their child's final expenses.
- To guarantee their child's college loan.
- To provide for their grandchild's education should their adult child pass away before their grandchildren finishes college.
- To provide for their adult child's family if their own child is unable to afford life insurance.
These are just a few of the reasons someone may wish to insure the life of their adult child.
Here's how to request a life insurance quote on your adult child.