Burial Insurance for Parents: How to Get Coverage for Mom or Dad

Yes, you can buy burial insurance for a parent. Your parent has to agree and sign the application, and you generally need an insurable interest, which means their death would cause you a financial loss, such as paying for their funeral. You can own the policy and pay the premiums yourself, or your parent can own it and name you as the beneficiary.

Can you buy burial insurance for your parents?

In most cases, yes. Insurance companies generally require an insurable interest before they will cover someone else’s life. For an adult child, that usually means you would be responsible for end-of-life costs or would otherwise face a financial loss if your parent passed away. The insurer may confirm this with a short phone interview.

Your parent must also be on board. They have to sign the application, answer the health questions, and agree to the policy. A policy cannot be taken out on a parent without their knowledge and consent.

Two ways to set it up

• You own the policy. You are the policyholder and you pay the premiums. Your parent is the insured. This makes it easier for you to keep the policy active and manage the account.
• Your parent owns the policy. Your parent applies, pays the premiums, and names you as the beneficiary.

Either way, the money is paid to the beneficiary named on the policy. The owner controls the policy, so decide together who the owner and beneficiary will be, and keep the beneficiary up to date.

How your parent’s health affects the policy

Burial insurance usually skips the medical exam, but it still looks at health. Some policies ask a few health questions, which is called simplified issue. Others accept everyone, which is called guaranteed issue, and those usually make the family wait before the full benefit is paid. The right type depends on your parent’s health and age. We explain the difference in Burial Insurance With No Waiting Period.

Every company also sets its own age limits, so the age your parent is today can change which policies are available.

How much coverage to buy

A good starting point is the cost of a funeral. The National Funeral Directors Association reported a 2023 median cost of about $8,300 for a funeral with viewing and burial, and about $6,280 for a funeral with viewing and cremation. Cemetery costs are often extra. Some families also add a little for final bills. Premiums depend on your parent’s age, health, the amount of coverage, and the company.

What to have ready before you apply

• Your parent’s date of birth, height, and weight
• A list of their medications and health conditions
• Any life insurance they already have
• The beneficiary, plus a backup
• A monthly amount that fits the budget

Questions to ask before you buy

• Does this policy pay the full benefit from day one, or is there a waiting period?
• What happens if my parent passes away during the waiting period?
• Can the premium ever go up, or can the policy expire?
• Who is the owner, and who is the beneficiary?
• What is the age limit, and is my parent still within it?
• Can you compare more than one company side by side?

Common questions

Do I need my parent’s permission? Yes. Your parent must agree to the policy and sign the application.

What if my parent has health problems? A guaranteed issue policy accepts people regardless of health, though it usually has a waiting period before the full benefit is paid.

Who receives the money? The beneficiary named on the policy. It does not have to be spent on the funeral home, so name someone you trust.

Is there an age limit? Yes. Companies set their own maximum ages, which vary, so ask about your parent’s age up front.

Is the payout taxed? The death benefit is generally not taxed as income to the beneficiary. See Are Funeral Expenses Tax Deductible? for more on funeral costs and taxes.

Is burial insurance the same as life insurance? It is a small whole life policy built for final expenses. See Burial Insurance vs. Life Insurance.

Get a quote

Amy Plunkett is an independent insurance agent at Plunkett Insurance Services in Castor, Louisiana. She can compare burial and final expense policies from more than 20 carriers to find the best coverage for your health, including options that pay in full from day one. Contact Amy to see what you qualify for.