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Hi thanks for your question. My name isXXXXX can assist with this.
Yes, this should be possible. In a way, they do seem to be financially dependant on her in the sense that unless she owns the home, they may lose their ability to reside there.
You're right to recognise that there needs to be an "insurance interest" but there does appear to be such an interest in this case.
Can you not just do this another way and avoid the issues at all? How about if your wife takes out a life policy, then leaves the benefit of that in her will to your parents?
Because I do see your point and the last thing you want is an argument over this at a later stage.
Yes, I see your point. I had thought the position was slightly different when you made the initial question, so I do agree with you.
Yes, I think that's right. I don't see the insurable interest in the circumstances.
Essentially, they're just tenants, are they not? Even if they owed her money, her death doesn't change that, as her estate simply becomes entitled to the debt. Its not like them passing and needing the cash sum to pay off their debts.
Thank you very much :)