Parents have an Insurable Interest in the life of their children, which is required in order to buy life insurance on someone else.
Whether you want to make sure there are funds to cover your child's burial costs, guarantee your son's future insurability, guarantee a college loan you make to your son, or provide for your grandchildren's future, many parents choose to buy life insurance plans on their own children.
Here's how to open a life insurance policy for your son.