I don't think my parents need the insurance. Their kids are all grown up. And the benefit is less than $100k which you can't do much with it.
It's your parent so a little insurance can be better than nothing unless you guys are all prepared for funeral expenses when the day come. There is always dramas and the one that is known to have a little insurance will get the crap like you should take care of it since you're collecting a payout.
When it was my in-laws they both had a term policy for 20 yrs 50k each but renewed shortly before my fil passed away so we was able to add 20k more to make my mil a 70k policy. We was paying $1300 every 6 months for the last 7-9 yrs when all the son took part vs before it was always my in-laws paying for it in the beginning. When my fil passed away we was still paying $1300 alone every 6 months for my mil and then she passed away almost 2 yrs later.
My oldest bil struggle to pay his portion and borrow from my husband a few time while the youngest brother never did paid a penny but my in-laws been paying for his portion. At the end he get his fair share/portion of every penny. My fil funeral was 35k and my mil closed to 30k. We spared no expenses because my in-laws saved money and had 50k and we just borrow 20k cash from my mil and add 10k of our to make it 30k. We paid my mil back 20k but she only want 10k and said the other 10k is her part. That 10k we didn't keep or split we just went ahead and purchased the plot next to my fil for her. The 10k my mil kept she gave it to my husband to put away in the bank with whatever they had. When it was my mil....same... 50k was there..... After funeral was over we just split whatever is left in the bank even to 4 part. Sunshine money and 2 xab mam koom that we belong to bring in about 25k. One xab mam koom you get like 4k upfront and the other one take time to collect from member who belong in it so it can be anywhere around 1-2 months to get it. It about 5-7k. Could be more but people took advantage of it and drop after they are member because it was bringing outside to joined so now we stick with just keeping it relatives.
Everyone situation is different and see many out there that have dramas. We are just blessed that my in-laws had it there and prepared that we didn't go through that hardship. For us tus tub zoo, phem los tsis tsim txaj at the end all gained the same.
My dad when it was his own mother a mother/grandmother who never really did love us. Funeral was 30k but my dad still had to fork over 10k because there is 3 of them. For my dad zoo thiab phem los yog yus niam. My grandmother is shit but her brothers they loved my dad and us greatly.