Can You Buy Life Insurance For A Parent? 
YES of course . In fact many `` children '' are purchasing Life Insurance to prevent a financial strain on the family . Also consider , with the Critical Illness & Chronic Illness features on policies these days , it is not a bad idea to get a policy which will help fund in the event of a heart attach , stroke , cancer & Chronic Illness which you can think of in simple terms as Long-Term care needs -LRB- note : these generally speaking are not Long-Term Care Insurance but is available -RRB- . Remember there does have to be an insurable interest in place . Depending on the company , you may have to have insurance on yourself . Your parents have to be involved in the process as well . You CAN NOT just take a policy out without them knowing . 