by excel51128 » Tue Nov 17, 2009 10:50 pm
my mother is 88 with mid to late stage altzheimers, otherwise she is in good health. is there a way to buy life insurance that upon her death will essentially repay/replace the $7000 per month she is currently paying for care? I can't predict whether she will live 1 month, 1 year or 6 years.
Posted: Thu Oct 25, 2012 06:18 pm Post Subject: term life for 88year old mom
My mom is 88years old --can I get term life or whole life on her so I will have something to bury her with and pay off her bills with? also which companies will give her ins.?
Posted: Fri Oct 26, 2012 12:12 am Post Subject:
Why are you concerned about paying her bills? Unless you are a co-borrower, her unsecured debts (credit cards, etc) will die with her. Any secured debt (cars, boats, houses) will be claimed/reposessed/foreclosed on by the lenders who will dispose of the property to recover their debt. Andy overage has to be refunded to the estate, any shortfall is too bad.
Of course, if you've used any of those unsecured accounts for your own needs, then you could be liable for them.
At age 88, it is probably too late to find the coverage you are seeking. Age 84 tends to be about the latest age carriers will write, but there may be one or two companies willing to charge you an exorbitant premium for what you want.
Look for companies specializing in "Final Expense" insurance.
Posted: Tue Jun 18, 2013 11:14 pm Post Subject: Term Life Insurance for an 88 yo
I am looking for term life insurance for my 88 yo mother. She currently has a$300,000 whole life policy; however, the premiums are about to go to $27,000 annually. I want to make sure there is not a term policy with a lower annual premium.
Posted: Wed Jun 19, 2013 03:52 am Post Subject:
Not available at that age. If it were, you wouldn't like the premiums either.
She currently has a $300,000 whole life policy; however, the premiums are about to go to $27,000 annually.
This does not describe whole life insurance. Are you sure it isn't Universal Life or Modified Whole Life?Posted: Wed Jun 19, 2013 12:52 pm Post Subject: life insurance
life insurance is very important work of our life to get the insurance plan there are many policies gives you so many plans according to your needs and requiremnet .To know more [link removed per TOU]
Posted: Wed Jun 19, 2013 06:56 pm Post Subject:
So many words, so little substance.
Posted: Thu Jun 20, 2013 02:09 pm Post Subject:
I don't think you could get it given your mother's age.
Posted: Sat Jun 22, 2013 12:17 am Post Subject:
This is an easy one; Just buy a policy, backdate it 15 years and pay all premiums in arrears.
No, seriously, just kidding, it'll never work.
As we get older, there are almost always things we wish we would have done when we were younger. Purchasing a life insurance policy is one of the most common ones.
Like filling your tank with Premium or cruising the Med, Life insurance planning is one of those time-sensitive processes which gets more expensive each and every year. There are no discounts and those special, too-good-to-be- true deals you'll find are scams.
Posted: Thu Jul 04, 2013 07:45 am Post Subject: Get the better deal
Get the better deal with any Insurance company who offers you to insure at this stage.
Posted: Mon Jul 15, 2013 07:50 am Post Subject:
This is quite a tricky question. We do care for our elders but there is very less chance of getting whole life insurance now.I don't think there is any chance now. But it will be beneficial to contact a company which provides [Link deleted per TOU]. You may contact them for better consultation. :)
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