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Can you take out a Life insurance policy on a parent?
Yes, you can take out a life insurance policy on a parent. There must exist insurable interest between the owner and insured of a life insurance policy. There does exist insurable interest between spouses, parents and children, and siblings. So, yes, you can buy life insurance on your parent. Your parent may need to sign the application, answer some health questions, or take a medical exam to qualify for life insurance.
How can you buy life insurance for a parent?
You can purchase life insurance online for your parent. Anyone can purchase life insurance for their parent, because they have an "Insurable Interest" in their parent. You can compare free life insurance quotes online, or purchase life insurance direct online for a parent. However, your parent may need to sign an application form, and your parent may need to take a physical exam, and/or answer some health questions.
What personal details do you need to take out insurance on a parent?
To take out life insurance on a parent, you'll need to provide complete background and health information and the parent will have to know they are being insured.
Can a parent take out life insurance on their adult children?
Yes, an insured and a beneficiary have to have an insurable interest to be able to have a life insurance policy. Parents/children are considered to have insurable interest
Can you purchase life insurance on your parent?
Yes, with your parent's knowledge and consent.
Can a child buy life insurance on a parent?
Yes.
How old can a parent be for a person to get life insurance on them?
Assuming the parent is an adult, most life insurance companies will issue policies on someone as old as age 75-80.
Can an employer force you to take health insurance if you have insurance with your parent?
i do not think so
Can a parent take life insurance out on another parent if they are divorced and have children together?
Probably, but you would need the cooperation of the other person to do so. Might not be a bad idea if you are the parent depending on child support. Just go with term insurance for the period of time when the children are minors.
Can the mother of adult college student take out a life insurance on the student although the father is the parent who signs for the student loans?
yes
Can a parent get life insurance on a child that is married without the spouses knowledge?
Is the child willing to sign the application and take the physical? I don't see why not.
Do step-children have a right to a step-parent's life insurance policies?
No. Step-children have no rights or interest regarding a step-parent's life insurance unless they are a named beneficiary on the policy. Step-children have no rights in a step-parents estate unless they are named in the step-parent's Will. In that case a step-parent can leave the proceeds of a life insurance policy to a step-child by their Last Will and Testament.
