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Can You Get a Burial Insurance Plan On Your Parents?
When it comes to buying burial insurance for your parents, you will have to show the insurance company what is known as “insurable interest.” This simply means that you will suffer some kind of financial loss if your parents’ were to pass away.
It is not difficult for adult children to show an insurable interest when it comes to insuring their parents with a burial insurance plan.
At BurialInsurancePlans.org we hear the question all the time: Can I be the owner of my parent’s burial insurance plan and the beneficiary? The answer is yes, as long as you will be in charge of handling your parent’s final expense. No documentation of this is required, some insurance applications simply ask if you have an insurable interest in the life of the insured.
Once this has been established, you will then need to determine the amount of coverage that will be necessary. The type of coverage required will also have to be defined. What kind of burial insurance coverage will best serve your family’s needs and those of your parents?
CLICK HERE to get Quotes on Burial Insurance Plans for your Parents!