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Life Insurance for My Parents – Burial Insurance For Parents

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Life insurance for parents is just one more thing that you have to think about as an adult child who has aging parents. The truth is that you might have found that you have a lot more concerns nowadays than you ever did in the past. You may have never thought about life insurance for parents, but you might have never thought about providing day-to-day care or financial assistance for your mom and dad, either. Now that your parents are getting older, however, they might need help with these things. You might also be thinking about what you are going to do when they pass away. Not only do you have to worry about the grieving aspect of losing your mom and dad, but you also have to think about the financial impact. For example, if your parents are going to be leaving you their home, you could be concerned about paying off the mortgage. You might also be thinking about funeral costs, the cost of missing work when your parents pass away and other final expenses. These things can all add up to be a huge financial burden.

Because of these concerns, you might be thinking about taking out life insurance for your parents. However, you might not even know where to start with this process. You might not know if you’re allowed to purchase life insurance for parents, for example. You could be worried about whether or not you’ll be able to find a good plan for your mom and dad. Luckily, we can help you learn a little more about the process. Plus, at United Life Group, we can help you find burial insurance for parents.

Can I Purchase Life Insurance on My Parents?

Your first question might be whether or not you can actually purchase life insurance for parents. The answer is yes. In fact, people do it all the time. If your parents want to pay their own premiums, you can help them with the process of shopping for whole life insurance and can help them get set up. If your parents aren’t able to make their own payments or if you just want to help them out and remove the financial burden as much as possible, you can take out the whole life insurance policy yourself and pay the premiums every month. When taking out life insurance, however, it is important to know that you will need to get your aging parents involved. Luckily, you can do a lot of the legwork for them so that all they have to worry about is signing the paperwork. This can help make the entire process much easier for everyone who is involved and can help you ensure that your loved ones end up being covered.

Reasons People Purchase Life Insurance on Their Parents

There are so many reasons why people take out burial insurance for parents. These are some of the reasons why this might be something that you’ll need to think about doing yourself:

  • You Have an Insurable Interest: Many adult children take out insurance for their parents because they have an insurable interest. Basically, this means that you will be financially impacted when parents pass away. For example, you might be concerned that you aren’t going to have enough money to pay off your parents’ house when it’s left to you after they pass away. Life insurance for parents can help cover this.
  • Your Parents are Having Trouble Getting Their Own Insurance: Some seniors find that they have a really hard time finding funeral insurance. Some older parents aren’t very tech-savvy and don’t really know how to shop for life insurance online. As someone who might be a bit more familiar with technology, you can help by shopping for coverage online. This makes things easier for senior parents and can help you ensure that they’re covered.
  • Your Aging Parents Want to Ensure Their Funeral is Paid For: Funerals are expensive. Your aging parents might not have any money set aside to pay for their funeral, and they may want to avoid putting this financial burden on you and their other family members. Guaranteed no medical exam funeral insurance can help you provide your older parents with peace of mind and can help you avoid the financial burden that can go along with paying for a funeral.
  • Your Senior Parents Want to Leave Something Behind: Your senior parents could be concerned about the idea of not leaving something behind for their children and grandchildren. Even though face value amounts for funeral insurance are usually rather small when compared to some other parent life insurance policies, they can allow your loved ones to leave behind something of a legacy.
  • You’re Concerned About Other Final Expense Issues: There are many different types of final expense that many adult children end up having to cover. Your older parents might have various debts, or they might leave behind a lot of medical bills when they pass away. Funeral insurance is designed specifically for final expense purposes. Regardless of the final expense that you’re facing, you can use the funeral insurance to cover it if you are the beneficiary.

These are just some of the reasons why adult children find themselves buying funeral insurance for their parents. You and your own parents might have your own reasons. Regardless of why you want to purchase life insurance, you should know that there are plenty of plans out there for those who are over 60, over 70 and even over 80. If you are ready to find coverage for your loved ones who are over 60, we can help you find funeral insurance.

Do Your Parents Have to Know or Be Involved in the Process When You Purchase Life Insurance on Them?

Broaching the subject of dying and funeral insurance can be tough. After all, the last thing that you probably want to think about is your older parents actually passing away. It might not be something that they really want to talk about, either. However, if they are looking for life insurance for seniors over 60 or over 70 and do not currently have coverage, it really is important to purchase a funeral insurance plan as soon as possible. Even though there are still options out there for those who are older, the options do start decreasing once they get over 60 years of age. It can get harder to find a plan, and life insurance rates for seniors can be more expensive. Therefore, it’s time to start shopping for life insurance for seniors over 60 now.

This means that it might be time to have a difficult conversation with your senior parents. You can do all of the work of shopping for your parents life insurance plan. In fact, you can get online on our website to shop for life insurance for elderly parents. You can also sign up as the owner of the policy, and you can be the payer and the beneficiary as well. However, since your older parents are going to be the insured individuals on their life insurance for elderly parents, so they are going to have to sign the paperwork before you can sign them up. They may have to answer questions about their health, although you can help with this. They may also have to go through a brief telephone interview, but this should be something that they are able to do from the comfort of their own home, and they should not have to worry about anyone from the life insurance company actually visiting their home. If you look for a guaranteed no medical exam life insurance plan, you will not have to worry about going to the doctor for an appointment related to your parents life insurance plan.

By doing the research, paying the premiums every month and otherwise handling most of the things that are related to the life insurance plan, you can minimize how much your parents have to be involved and how much they have to do when they’re over 60 and might not be able to really fuss with life insurance any more than necessary.

Can I Pay for the Policy for My Parents Life Insurance?

When taking out life insurance for your aging parents, you might be concerned about how the premiums will be paid. Even though you might know how important it is for them to have funeral insurance, you probably do not want the burial insurance for parents to affect them negatively financially. Fortunately, you can look for affordable burial insurance for parents to keep costs low. Additionally, you can actually make the premium payments on burial insurance for parents yourself. Providers that offer burial insurance for parents are usually accustomed to this, so it should not be a problem once parents have signed the necessary paperwork and answered the health-related questions.

Is it Too Late to Purchase a Policy for My Parents?

One thing that many people worry about is that it might be impossible for them to find life insurance for their parents. Unfortunately, for some people, this is a legitimate concern. Finding life insurance for parents over 70, can be more challenging than a lot of people realize. Many providers that offer coverage prefer to sell it to younger individuals. However, there are still options out there if you’re looking for life insurance for elderly parents.

Because of this, it is important not to wait any longer than you have to when buying burial insurance for parents. The longer that you wait, the fewer options for life insurance for parents that you will have. Also, for parents who are older or who have more serious health issues, there is more of a chance that there will be a waiting period when you do finally find life insurance for elderly parents.

Do My Parents Have to Answer Questions About Their Health When Buying Life Insurance?

In general, when you’re shopping for life insurance for elderly parents, you should expect for parents to have to answer questions about their health. This can be difficult or impossible to avoid. However, you shouldn’t allow this to let you think that you won’t be able to find life insurance for elderly parents. Even though a lot of the providers that offer life insurance for elderly parents do ask questions about health, they aren’t usually looking for information about minor health issues. It is often possible to find no medical exam life insurance for parents that only requires that they do not have serious health-related issues.

Along with answering some health-related questions on the application, some senior citizens might have to talk to someone for a brief telephone interview when you purchase life insurance for parents. However, they should not have to go in for a medical exam when you choose burial insurance for parents, which is the case for many other types of plans, such as term life insurance.

Where Does the Money Go After My Parents Pass Away?

After you compare options and find the best life insurance rates for an affordable plan, you and your loved ones will need to fill out an application. During the application process, you will be asked to designate a beneficiary. In many cases, people nonprofit one of their adult children as the beneficiary of the plan. They may also choose to designate a funeral home or non-profit organization as their beneficiary.

What Can the Money Be Used For?

It is up to the beneficiary who is listed on the application as to what the money will be used for. Traditionally, the money from these plans is used to cover final medical bills and funeral expenses first. Then, the rest of the money might be used to cover things like the time that the adult children had to take off of work to handle the funeral arrangements. Whatever is left might be given to the adult children or grandchildren or many are donated to a non-profit organization.

Things to Understand Before Purchasing Burial Insurance for Parents


  • The Company You Choose is Important: When shopping for a life insurance plan for parents over 70, your options might be somewhat limited. However, it is still best to compare options and application processes between several providers before making a choice. Some providers have a stronger financial backing than others, some offer more affordable premiums than others, and some do not require a waiting period while others do. When purchasing a plan, it’s always wise to shop around. Fortunately, you can use our search tool to do so and to make purchasing easier.
  • There Might Be a Waiting Period: Some plans will not give the entire death benefit if the insured passes away during the first couple of years after buying the plan. Some require a two-year waiting period before any funds will be distributed. Some give a percentage of the death benefit during the first couple of years. Make sure that you are aware of these things when purchasing life insurance for parents over 70.
  • You’ll Want to Look for a Fixed Policy: Along with comparing rates and looking for an affordable option before purchasing, you’ll want to look at other things. For example, you’ll probably want to look for a plan with a fixed premium so that the premiums don’t go up as your loved one ages.
  • It’s Critical to Look for a Policy That Will Last for Their Entire Lives: Some people “age out” and outlive their plans. Make sure that you look for a plan that will cover your loved ones for their entire lives.

What are Some Sample Life Insurance Quotes for My Parents?

You can expect for your loved ones to pay different rates for others since many things are looked at when providers determine premiums. These are some quotes that were pulled from our quote engine; they can give you an idea of approximately how much these senior life insurance plans usually cost.

For a tobacco-free male who is looking for $10,000 in coverage:

  • 60 Years Old: $41.65
  • 65 Years Old: $53.87
  • 70 Years Old: $72.68
  • 75 Years Old: $99.45
  • 80 Years Old: $132.65

For a tobacco-free male who is shopping for $15,000 in coverage:

  • 60 Years Old: $61.17
  • 65 Years Old: $79.71
  • 70 Years Old: $107.04
  • 75 Years Old: $147.69
  • 80 Years Old: $197.38

For female senior citizens who don’t use tobacco:

  • 60 Years Old: $32.87
  • 65 Years Old: $41.01
  • 70 Years Old: $52.47
  • 75 Years Old: $71.11
  • 80 Years Old: $98.43

For non-smoking female senior citizens:

  • 60 Years Old: $47.70
  • 65 Years Old: $59.91
  • 70 Years Old: $76.53
  • 75 Years Old: $104.48
  • 80 Years Old: $146.05

How to Apply for a Life Insurance Policy for My Parents

Now that you know a little more about buying life insurance for elderly parents, you might be ready to take action. You might have decided that you will look for a guaranteed no medical exam plan, but you might not be sure of how to proceed.

Fortunately, this is something that we can assist you with. We assist people on a daily basis who are interested in these plans, and we can help you find one that doesn’t require a medical exam or a waiting period. Your loved ones might even get approved almost instantly, meaning that they can finally be covered.

We help seniors and younger adults who are concerned about the seniors that they love not being covered. We help connect seniors with the best senior life insurance companies with our online tool so that they can compare their options, including many seniors who live in these states:

  • Florida
  • California
  • Texas
  • New York
  • Arizona
  • Illinois
  • Pennsylvania

These are some of the best life insurance companies out there for burial insurance for parents, although there are other great companies out there that also offer coverage. It’s always a good idea to compare your options from these companies and more:

  • Globe Life
  • Transamerica
  • Royal Neighbors of America
  • Aetna
  • Cigna
  • Mutual of Omaha
  • AARP
  • Colonial Penn

Are you ready to purchase a life insurance plan for your parents or loved ones? If so, use our website’s search tool or give us a call for help.