Life insurance (money, income, poor, furniture)

[meltaway]

Is it common for adult children to have life insurance policies on their parents to bury them and get extra money? Even if the parents don't support them? Two of my siblings have one on our mom one is older has a family,job,and husbands income...why would she want money? Well my other sister who actually lives with my mom, could use it.

[Coolhand68]

Well so long as she's not setting up trip wires around the house, hiding their meds, cutting the brake lines on her car, and booby-trapping the furniture it shouldn't be an issue.

[Suncc49]

Originally Posted by meltaway

Is it common for adult children to have life insurance policies on their parents to bury them and get extra money? Even if the parents don't support them? Two of my siblings have one on our mom one is older has a family,job,and husbands income...why would she want money? Well my other sister who actually lives with my mom, could use it.

Nothing out of the ordinary.... Also helps clean up any estate issues .

[Ceece]

It's not uncommon but it doesn't come cheap either. Once someone is older and perhaps in poor health the premiums get pretty steep. I can't imagine you are talking about much money here.