You may be able to buy burial insurance on your parents.
Buying life insurance on another person requires an insurable interest in that person, meaning you may stand to lose financially if the other person dies.
Since children may lose financially if their parents die, you should be able to buy life insurance on your parents to provide for their burials.
However, you may need the approval and signature of your parents, and they may be required to answer some health questions, or take a physical to find out if they qualify for coverage.
There are some burial insurance plans that offer people life insurance without any medical exam being required.
For instance, Globe Life offers people age 78 and under up to $30,000 of simplified life insurance without any physical exam. You may be able to apply online for burial insurance coverage for your parents.
Here's how you can learn more about buying burial insurance for your parents.
Buying life insurance on another person requires an insurable interest in that person, meaning you may stand to lose financially if the other person dies.
Since children may lose financially if their parents die, you should be able to buy life insurance on your parents to provide for their burials.
However, you may need the approval and signature of your parents, and they may be required to answer some health questions, or take a physical to find out if they qualify for coverage.
There are some burial insurance plans that offer people life insurance without any medical exam being required.
For instance, Globe Life offers people age 78 and under up to $30,000 of simplified life insurance without any physical exam. You may be able to apply online for burial insurance coverage for your parents.
Here's how you can learn more about buying burial insurance for your parents.
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