Can I Purchase Life Insurance On My Parents? 
The answer is it depends . If you are dependent upon your parents for your income and expenses or in business with your parents then yes there is an insurable interest . However , if there is not a clear insurable interest then that answer would be no . If the answer is yes , your parents must be in agreement to purchase life insurance even if you are making the payments . They have to be underwritten and sign the applications and contracts . 