Can I Take Out A Life Insurance Policy On My Father? 
Yes , you can take out a life insurance on your father if your father consents to it and if the amount is considered financially justifiable . Your father will need to sign the application as the Insured even if you own the policy . If he owns the policy , he can get as much life insurance as his income supports . If you own the policy , you can get as much as is needed for his final expenses . If you want to purchase more than that on your father , you will most likely need to show that you receive some financial support from your father that would be lost if he were to pass , or that you contribute to his support and would get some of that back through life insurance . 