Can you buy a life insurance policy on your Dad?
The answer is "YES".
Many adult children buy life insurance policies for their parents to make sure there is no financial stress in paying for their father or mother’s funeral and burial expenses.
In order to buy life insurance on someone else you are required to have an "Insurable Interest" in the person you want to insure for life insurance.
Insurable Interest exists between parents and their children, spouses, family members, and business partners, among others.
Basically, insurable interest means you stand to lose financially if the person you wish to insure dies, or you rely on that person for some means of financial support.
Since insurable interest does exist between parents and their children - YES, you can buy life insurance on your parents.
Learn more about how to buy life insurance on your father.