I'm sorry, but you have to understand that the life expectancy in the United States is substantially less than 89. You will find it very difficult to get life insurance on a parent who could die any time.
I'm not saying it is impossible. But you would be paying a great deal in a premium that would pay out only about as much as you put in.
Do not be fooled by the multiplicity of advertisements from no-name or small name companies that you see flooding the airwaves of tv and the junk box of your email. You need to consult with an insurance agent of a large and reputable company, so that any deal you do conclude will be honored.
The smaller and less known companies may well honor their deal with you - it's just that you'll learn the deal was far different then you thought.
Also, go with cremation when they pass. It's a lot cheaper.
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