Can I Purchase Life Insurance For My Parents? 
You can purchase life insurance for your parents since you have an `` insurable interest . '' Some of the more common reasons are for estate preservation or to take care of final expenses . You can also be the premium-payer , and as the owner , determine the beneficiary , and change it at any time . Typically , death proceeds are tax-free and avoid probate . Getting the best rates on this type of coverage is important . As an experienced broker , our job is to shop the top-rated companies for you , and present the best options , based on the criteria you have provided . With more than 32 years of experience , my website is one of the most respected resources in the life insurance industry . 