How to Buy a Life Insurance Policy on Your Parent for Funeral Expenses (Complete 2026 Guide)

Last Updated: February 15, 2026 | Written by President of Term Life Online – AU, AAI, ARM

Is It Legal to Buy Life Insurance on Your Parent?

Yes. It is completely legal—as long as two requirements are met:

1. You Must Have Insurable Interest

This means you would suffer financially from their passing. Children automatically qualify.

2. Your Parent Must Consent

Your parent must:

• Know about the policy
• Agree to it
• Sign the application

You cannot secretly insure a parent.

Best Type of Life Insurance for Funeral Expenses

The most popular option is Final Expense Insurance (also called burial insurance).

Why final expense insurance works best:

• Coverage amounts: $5,000 to $25,000
• Affordable monthly premiums
• No medical exam required
• Fast approval (sometimes same day)
• Lifetime coverage
• Fixed premiums that never increase

👉 Lock in affordable funeral protection for your parent.

How Much Does It Cost?

Costs depend on:

• Age
• Health
• Coverage amount
• Gender
• Tobacco use

Average Monthly Cost Examples

     Parent Age   $10,000 Policy     $15,000 Policy

                                         60                  $35-$60                   $50-$85

                                         70                  $55-$90                   $75-$130

                                         80                  $95-$160                $140-$220   

Coverage is often much cheaper than people expect.

👉 See exact prices based on your parent’s age and health—request a free quote in under 60 seconds.

Step-by-Step: How to Buy a Policy on Your Parent

Follow these simple steps:

Step 1: Talk With Your Parent

Explain:

• Why you want coverage
• That it protects the family
• That it prevents financial stress

Most parents appreciate the planning.

Step 2: Choose the Right Coverage Amount

Most families choose:

• $10,000 for cremation
• $15,000 for average funeral
• $20,000+ for full burial and extra costs

When in doubt, more coverage provides better protection.

Step 3: Compare Quotes

Every company offers different pricing.

Comparing quotes can save hundreds per year.

👉 Request your free quote now to find the lowest price instantly.

Step 4: Complete the Application

The application includes:

• Basic health questions
• No exam (in most cases)
• Takes 5–10 minutes

Approval can happen the same day.

Step 5: Choose the Owner and Beneficiary

Typically:

• You: Policy owner and beneficiary
• Parent: Insured person

You control the policy and receive the payout.

Can You Get Coverage If Your Parent Has Health Problems?

Yes.

Final expense insurance is designed for seniors with:

• Diabetes
• Heart disease
• COPD
• High blood pressure
• Cancer history

Even parents in poor health can often qualify.

👉 Check eligibility now—approval is easier than most people think.

No Medical Exam Options

Many policies require:

• No physical exam
• No blood tests
• No doctor visit

This makes it ideal for older parents.

Approval is based on simple health questions.

Guaranteed approval is available with no health questions asked.

What Happens When Your Parent Passes Away?

The process is simple:

1. File a claim
2. Submit death certificate
3. Receive payout

Most companies pay within days to weeks.

You can use the money for anything—but most families use it for funeral costs.

When Is the Best Time to Buy?

The sooner, the better.

Reasons:

• Lower premiums
• Better health qualification
• Guaranteed approval options

Waiting can lead to:

• Higher costs
• Denial
• Limited options

👉 Lock in affordable coverage today with a free quote.

Who Pays the Premium?

Usually, the adult child pays.

However, parents can also contribute if they choose.

Payment options include:

• Monthly
• Quarterly
• Annually

How Much Coverage Do Most Families Buy?

Most common amounts:

• $10,000
• $15,000
• $20,000

This typically covers full funeral costs.

What Age Can You Insure Your Parent?

Most companies accept parents ages:

• 50 to 85

Advantages of Funeral Life Insurance

    ✔ Affordable

    ✔ Easy approval

    ✔ No medical exam

    ✔ Lifetime coverage

    ✔ Fixed monthly cost

    ✔ Fast payout

    ✔ Peace of mind

Real Example

Sarah, age 45, bought a $15,000 policy on her 72-year-old mother.

Her cost: $78 per month

When her mother passed, the policy paid:

• Funeral: $9,200
• Burial: $3,800
• Remaining funds helped family travel expenses

Without the policy, Sarah would have paid everything herself.

Common Mistakes to Avoid

Avoid these errors:

1. Waiting too long

Costs increase with age.

2. Buying too little coverage

Funerals are expensive.

3. Not comparing quotes

Prices vary widely.

How to Get the Cheapest Policy

Follow these tips:

• Buy early
• Compare multiple quotes
• Choose final expense insurance
• Work with a specialist

Get a Free Life Insurance Quote on Your Parent Today

Protect your family from unexpected funeral expenses.

Getting coverage is:

• Fast
• Affordable
• Easy

Request your free, no-obligation quote now and see your exact price in minutes.

Frequently Asked Questions

1. Can I buy life insurance on my parent without them knowing?

No. They must consent and sign the application.

2. Can I be the beneficiary?

Yes. Most adult children are both owner and beneficiary.

3. How fast can coverage start?

Often the same day.

4. Is funeral insurance worth it?

Yes. It protects you from large unexpected expenses.

Final Thoughts

Buying life insurance on your parent for funeral expenses is one of the smartest financial decisions you can make.

It provides:

• Financial protection
• Emotional relief
• Peace of mind

Most importantly, it ensures you can focus on your family—not finances—when the time comes.

👉 Get your free life insurance quote now and protect your parent today.

Compare Guaranteed Issue Life Insurance Quotes

Top Pick – Mutual of Omaha

Mutual of Omaha offers guaranteed acceptance whole life insurance for people age 45 to 85. Choose $2,000 up to $25,000 of coverage. Rates start as low as $8.84 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply online now. Start Here to get a FREE Quote. 

• Your life insurance policy comes with a 30 day Risk-Free, Money-Back Guarantee

Highly Recommended – Gerber Life

Gerber Life offers guaranteed issue life insurance for people ages 50 to 80. Choose $3,000 up to $25,000 of coverage. Rates start as low as $17.69 per month. There’s no medical exam and no health questions. You cannot be turned down. Start Your FREE Quote.

Resources:

• Does Life Insurance Cover Funeral Expenses?
• Guide to Guaranteed Acceptance Life Insurance
• Tips for Buying Guaranteed Issue Life Insurance
• Guaranteed Issue Life Insurance FAQs
• Pros and Cons of Guaranteed Issue Life Insurance
• A.M. Best Company: Compare financial strength ratings of life insurance companies
• Life Happens.org: Learn about life insurance and review facts.

About Our Methodology

Reviewed By: President of Term Life Online – AU, AAI, ARM

• 30+ years of experience in insurance planning

How We Keep This Guide Accurate: We regularly updates our content to reflect the latest rates and industry trends. We are committed to providing transparent, unbiased information to help you make the best decision for your family.

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Disclaimer: This is for informational purposes only. Consult a licensed professional for advice.