Life insurance
Can I buy life insurance on my aging parent?
You can apply for a policy on a parent if they agree, and if you would suffer a financial loss if they died, such as paying for their funeral or a shared debt. The parent must consent and usually has to answer health questions.
The basics
- Insurable interest: you need a financial stake in the parent's life.
- Consent: your parent must agree and sign.
- Who owns the policy: you can be the owner and beneficiary.
- Cost often rises sharply with age and health conditions.
Alternatives
A parent may be able to buy a final expense policy themselves. Or the family can set aside savings for final costs. Compare which works better.
Have this ready when you call
- Your parent's age and health basics
- What the coverage is meant to pay for
- Your parent's agreement
Common questions
What if my parent has health problems?
Some policies are designed for that and can have limits in the first years. We can explain the types.
Does my parent have to take an exam?
Some policies do not require one. Ask on the call.
Related answers
Rather talk it through?
Call 855-367-1095 and a licensed agent will go through your situation with you. There is no charge to ask, and no obligation to enroll.
- Licensed insurance help
- No guaranteed eligibility, pricing, or availability
- Educational starting point
Information on this site is educational and does not guarantee eligibility, enrollment, pricing, or availability. It is not a recommendation to buy any specific plan or policy.