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You can purchase life insurance for your parents since you have an "insurable interest." Some of the more common reasons are for estate preservation or to take care of final expenses.
You can also be the premium-payer, and as the owner, determine the beneficiary, and change it at any time. Typically, death proceeds are tax-free and avoid probate.
Getting the best rates on this type of coverage is important. As an experienced broker, our job is to shop the top-rated companies for you, and present the best options, based on the criteria you have provided. With more than 32 years of experience, my website is one of the most respected resources in the life insurance industry.
You can purchase life insurance for your parents if they give their permission by signing the application and submitting to any underwriting requirements (such as exam, if one is required). The amount you can get on them will depend on how much income they make, their assets, and any financial relationship you may have with them.
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You can also be the premium-payer, and as the owner, determine the beneficiary, and change it at any time. Typically, death proceeds are tax-free and avoid probate.
Getting the best rates on this type of coverage is important. As an experienced broker, our job is to shop the top-rated companies for you, and present the best options, based on the criteria you have provided. With more than 32 years of experience, my website is one of the most respected resources in the life insurance industry.