Question 1

Can I take out a life policy on my parents?

stagingeckburg · Accepted Answer

Yes, you can. But a few requirements exist for most life insurance companies. Your parents must agree to it; there must be an ability to show financial burden if a parent passes; and the ownership of the policy, payer of the policy, and beneficiary of the policy must be agreed upon between the parties.

Question 2

Can I take out a life policy on my parents?

stagingeckburg · Accepted Answer

Yes, you can. But a few requirements exist for most life insurance companies. Your parents must agree to it; there must be an ability to show financial burden if a parent passes; and the ownership of the policy, payer of the policy, and beneficiary of the policy must be agreed upon between the parties.