Can I Buy Life Insurance For My Parents? 
Yes , you can buy life insurance for your parents per some guidelines : 1 -RRB- If you are going to own the policy for your parents , you can get a small policy to be used on final expenses . If you want to own a policy on them for a larger amount , you must show that you contribute to their lives financially -LRB- e.g. they live with you -RRB- or more so , that you would suffer financial loss if they would die -LRB- e.g. you live with them -RRB- . 2 -RRB- If you are going to just pay for the policy and they will own their own policies , you can buy them as much as they qualify for financially . The face amount will be based on their income , net worth , and age . 3 -RRB- They will need to sign their own life insurance applications , showing their agreement to the policies you are purchasing for them . Many kind hearted and responsible people buy life insurance for their parents so that they have the assurance that there we will money to give them a decent sendoff , and without financial stress . A good place to start is to go to a website that sells Senior Life Insurance . 