I am an adult now, can I get burial insurance policies for my parents or do they have to get their own?
I don't want to get stuck with paying for $6,000 plus for their funerals when I have no savings.
They are not young, can I get burial insurance for them to protect myself and pay for it each month myself? Or, do they have to get it for themselves?
Yes, you can buy burial insurance on your parents, and pay the premiums yourself. You would be the owner of the burial insurance plans and name yourself the beneficiary of their policies.
Since they are your parents you have an insurable interest in them, because you would suffer financially if they died, having to pay for their funeral and burial.
However, in order to buy a burial life insurance policy on each of them you will need their permission, signature on the application, and they may need to answer a few health questions.
Here's how you can get your burial insurance quotes on your parents and learn more about the coverage.
I don't want to get stuck with paying for $6,000 plus for their funerals when I have no savings.
They are not young, can I get burial insurance for them to protect myself and pay for it each month myself? Or, do they have to get it for themselves?
Yes, you can buy burial insurance on your parents, and pay the premiums yourself. You would be the owner of the burial insurance plans and name yourself the beneficiary of their policies.
Since they are your parents you have an insurable interest in them, because you would suffer financially if they died, having to pay for their funeral and burial.
However, in order to buy a burial life insurance policy on each of them you will need their permission, signature on the application, and they may need to answer a few health questions.
Here's how you can get your burial insurance quotes on your parents and learn more about the coverage.
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