life insurance on parent

BUYING LIFE INSURANCE TO COVER ELDERLY PARENTS

Can a child open a life insurance policy for a parent? - Yahoo ...
Feb 25, 2012 . Over the years I have tried to convince my mother of the importance of life insurance to cover her final expenses and her outstanding debt.
http://answers.yahoo.com/question/index?qid=20120225070956AAukNw2

Life Insurance Policies for Parents
Jan 4, 2012 . In most cases, you can purchase life insurance policies for your parents. The most popular types of policies for parents are term life insurance, .
http://termlifeinsurancemales.com/types-of-life-insurance/life-insurance-policies-for-parents/

Taking out life insurance on your parents? | Finance and ...
Feb 3, 2007 . Recently my mom suggested to me that I take out a life insurance policy on her now for $50-100/month and then end up with $150-200K when .
http://forums.studentdoctor.net/showthread.php?t=366247

How do I take out a life insurance policy on my mother?
Askville Question: How do I take out a life insurance policy on my mother? . Relatives who qualify as insurable interests include spouses, parents, children, and .
http://askville.amazon.com/life-insurance-policy-mother/AnswerViewer.do?requestId=10490805

Where to Purchase Life Insurance for a Parent | eHow.com
Where to Purchase Life Insurance for a Parent. Life insurance can help pay for a burial, settle outstanding debts and possibly create an inheritance for one's .
http://www.ehow.com/how_4579562_purchase-life-insurance-parent.html

Term Life Insurance (for healthy seniors)

Key features:

  • Medical examination required, to prove that the insured is in good health
  • Life Insurance For Parents | American National Insurance Company
    Online Life Insurance for Single Moms, Single Parents and Couples with Children. Buy Online With No Medical Exam.
    http://www.anicodirect.com/Life-Insurance-For-Parents/index.htm

  • Insured covered up to the age of 90 or 95 (depends on insurance company guidelines)
  • Premiums increase towards the end of the Term
  • Many seniors outlive the fixed term so look for a policy that can be converted to whole life insurance
  • Consider purchasing Burial Insurance also, should the senior outlive the Term

Burial Insurance (for healthy seniors)

Key features:

  • No medical examination required
  • Insured person is covered for life
  • Premiums are locked-in and do not change
  • Moreover, cash value increases over time
  • If the insured is healthy, then you receive full benefit the day after you pay your first premium
  • Coverage cannot be canceled as long as you pay your premiums on time
  • Proceeds can be used for burial costs and other end-of-life expenses

 

Graded Benefits Burial Insurance (for seniors with health problems)

Key features:

  • No medical examination required
  • Insured person is covered for life
  • Premiums are locked-in and do not change
  • Policy increases in cash value over time
  • You typically only get partial coverage for the first two years, and the full insured amount only in the third year of the policy
  • Insurance company cannot cancel coverage as long as you pay premiums on time
  • Proceeds can be used for burial costs and other end-of-life expenses

How To Take Out A Life Insurance Policy On A Parent ...
Sep 2, 2010 . How To Take Out A Life Insurance Policy On A Parent. Even if you're an adult, the death of a parent can represent a significant financial burden.
http://www.livestrong.com/article/212123-how-to-take-out-a-life-insurance-policy-on-a-parent/

 

 

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