Yes, if you have grown children, you may buy life insurance on them because you have an insurable interest in your own children, which is required to purchase life insurance on someone else.
Many parents of grown children buy life insurance on their kids because they may have lent their children money to buy a car, buy a home, or pay for college tuition, among other things.
For example, If your child passes away before paying you back what they owe you, the life insurance policy will pay out the death benefit to you if you name yourself as the beneficiary of the life insurance.
Other reasons to buy life insurance on your grown children is because they have young children of their own but cannot afford their own life insurance to provide financial security for their own family.
Here's how to get life insurance quotes for your grown children.