Can You Buy Life Insurance For A Parent? 
It is n't clear if you mean paying premiums for a new policy for your parent where the parent will own and be the insured of the policy or if you mean to take out life insurance on your parent 's life but be the premium payor , owner and beneficiary . In the former , if he/she is insurable , he/she can have a policy on his/her life and you can pay premiums which would be gifts to him/her . This can be done . In the latter , it is permitted under the rules of insurable interest as long as the parent is insurable and consents to the insurance . 