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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

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โˆ™ 2012-11-10 00:30:39
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Q: Can a parent take out life insurance on their adult children?
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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.


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.


Can you take out life insurance on your parent?

Yes you can purchase life insurance on your parent. In order to buy life insurance on another person there must exist an Insurable Interest in that person. There does exist an insurable interest between siblings, spouses, and parents and children.


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.


Does Gerber Life Insurance Company do adult and child life insurance?

Yes! Although the Gerber Life Insurance Company focuses on the fact that they provide life insurance for children, they do in fact, sell life insurance to people of all ages and in all stages of life.


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.


A parent dies and leaves two children as equal beneficiaries to his estate in his will. One of them is listed as a recipient of an insurance policy. Must he split the proceeds of the insurance policy?

No. The life insurance proceeds pass outside of the parent's will.


What is the principle of life insurance?

The principle reason people might get life insurance is so that survivors might be able to pay funeral costs. Many people that have children might also get life insurance so that the children will be provided for in the case of a sudden death of a parent.


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.


What kind of services does Globe Insurance offer to customers?

Globe Insurance offers several types of insurance to its customers. They offer adult life insurance, children's life insurance, accidental death insurance, mortgage protection plan, and medicare supplement insurance.


Can an adult child insure the parent without their knowledge?

Yes,life insurance can be obtained by any one for anyone.Its kinda sad.


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

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