In order to get life insurance on someone else, you need an Insurable Interest in the person, which means you would suffer a financial loss should the person n die, or you rely on the person for some means of financial support.
Many parents buy life insurance on their adult kids to guarantee a loan - for college, a new home or a new car, among other things.
That way, should your adult child die before repaying the loan, you will get your money back if your child passes away.
In addition, many parents buy life insurance on their adult children because their children cannot afford their own coverage, but have a family of their own.
Learn more about buying life insurance on your adult kids.