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Can I Buy Life Insurance For My Parents. Or you can be the owner with yourself as beneficiary. Yes, you can absolutely buy life insurance on and for your parents.
from venturebeat.com
Your parent can be the owner of the policy and name you the beneficiary. There is no question of the importance of your parents hence, sound life cover for parents is one of the best things you can get for them. You can buy life insurance for a parent as long as you have an insurable interest and consent from the insured.
By taking life insurance out on your parents, you can protect yourself against financial hardship should they pass away. On your own or with a licensed agent. As they should, the insurance companies are going to examine the intent. One of the biggest reasons is to help in paying for their burial and other expenses.
