Yes, it is possible to buy a life insurance policy for your parents. However, there are certain considerations and requirements to keep in mind. First, your parents must be aware of and consent to the purchase of the policy. Second, you must have an insurable interest in your parents, meaning you would suffer financially if they were to pass away. Third, your parents may need to undergo a medical examination depending on their age and the coverage amount. Fourth, the policy's ownership and beneficiary designation should be carefully considered to ensure that it aligns with your intentions. It's important to consult with an insurance agent or financial advisor to understand the specific requirements and options available for purchasing a life insurance policy for your parents.