Insurable interest means that you want to buy life insurance so that as the adult child, you will not be burdened with debt, outstanding payments and final expense costs after
the passing of your elderly parents.
Not exact matches
In China, in addition to having laws that specify the rights
of children, a law was recently
passed that requires adult children to care for their
elderly parents.
And more and more,
elderly parents without any life insurance are realizing the gravity
of the financial burden they would leave behind to their adult children in the event
of their
passing.
Both
elderly parents are can be insured against the
passing of the other.
In such instances, you, as a dependent, * may be able to purchase
elderly insurance that covers your financial expenses upon the
passing of your
parents.