A life insurance policy is an important financial tool for everyone and is especially beneficial for older individuals who may have limited income.
A life insurance policy can help to protect your grandparents from financial hardship in the event of their death.
In order to buy life insurance on your grandparents you must:
- Be an adult.
- Get their permission/consent.
- They must sign the application for life insurance.
In addition, you must have an insurable interest in the person or persons you wish to insure for life insurance.
Insurable Interest means you either rely on the person for some form of financial support, or their death would cost you a financial loss; such as, having to pay for their burial and funeral expenses.
If you are an adult, you may be able to purchase life insurance on your grandparents.
Request a life insurance quote for your grandparents