My mother is 84 and has no life insurance. Is it possible to get any for her? (To cover funeral expenses in the future(
Total Comments: 4
Posted: Thu Aug 05, 2010 02:20 am Post Subject:
Very difficult to do, but can be done. Here's the big question. What kind of health is she in? She'd got to be perfect for a life insurance to issue a fully underwritten policy at that age--guaranteed issue is out of the question since she's past the age range.
Also, what state? This matter a lot in some circumstances (e.g. New York is terrible based on the limited number of insurance companies there).
You got to be careful even if you find a company you think will issue a policy. Need to gather all the maybes and look at informal underwriting inquiries. One hasty move that yields a decline and it's almost a for sure game over at that point. One decline carries a lot of weight with other carriers, they'll basically decline based on the original decline
Posted: Thu Aug 05, 2010 05:57 am Post Subject:
What kind of health is she in?
Well, I guess that's the biggest question out there. If she's doesn't have pre-existing health conditions that's one thing, and if she's been through a tough one that's another. We've had quite a few discussions on this topic before and here's what I have for you now-
http://www.ampminsure.org/life/reasonable-premium-policy.html
Posted: Thu Aug 05, 2010 08:47 pm Post Subject:
BNTRS is correct. It is going to be extremely difficult, if not impossible to get a life insurance policy for her unless she is in excellent health. Even if you can find one, it will be unbelievably expensive.
Posted: Fri Aug 06, 2010 11:28 am Post Subject:
I don't think the OP is looking for an usual kind of life insurance policy. What he actually needs is a Final expense insurance. See if you may shop for a term policy with a low face value.
Posted: Thu Aug 05, 2010 02:20 am Post Subject:
Very difficult to do, but can be done. Here's the big question. What kind of health is she in? She'd got to be perfect for a life insurance to issue a fully underwritten policy at that age--guaranteed issue is out of the question since she's past the age range.
Also, what state? This matter a lot in some circumstances (e.g. New York is terrible based on the limited number of insurance companies there).
You got to be careful even if you find a company you think will issue a policy. Need to gather all the maybes and look at informal underwriting inquiries. One hasty move that yields a decline and it's almost a for sure game over at that point. One decline carries a lot of weight with other carriers, they'll basically decline based on the original decline
Posted: Thu Aug 05, 2010 05:57 am Post Subject:
What kind of health is she in?
Well, I guess that's the biggest question out there. If she's doesn't have pre-existing health conditions that's one thing, and if she's been through a tough one that's another. We've had quite a few discussions on this topic before and here's what I have for you now-
http://www.ampminsure.org/life/reasonable-premium-policy.html
Posted: Thu Aug 05, 2010 08:47 pm Post Subject:
BNTRS is correct. It is going to be extremely difficult, if not impossible to get a life insurance policy for her unless she is in excellent health. Even if you can find one, it will be unbelievably expensive.
Posted: Fri Aug 06, 2010 11:28 am Post Subject:
I don't think the OP is looking for an usual kind of life insurance policy. What he actually needs is a Final expense insurance. See if you may shop for a term policy with a low face value.
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