jojojojojo
New Member
- 3
Want life insurance on mom. She has no diseases or conditions, generally good health. Non smoker, non drinker, 78 years old. Would I be able to get coverage?
INSURANCE ON MOM ?
- Thread starter jojojojojo
- Start date
- 24,928
It is done very regularly. Fairly easy process. First question - what state are you in?
- 5,770
I can help, but you would need to make me the beneficiary. 
- 2,616
Why?
Seriously.
Are you dependent on her for support?
Does she have a lot of debt that will require valuable assets to be sold to pay those debts?
Does she have income in addition to social security? Or savings? Paying premiums out of just social security could be a painful waste of money if social security is all she has.
Or will you pay the premiums?
At the risk of being tarred and feathered for heresy, depending on the circumstances, buying life insurance at 78 could be just as much a bad idea as it could be a good idea.
- 24,928
A good percentage of my "FE" business is adult children buying coverage on mom or grandma. Did two or three last month
Here a voicemail from this morning- "" Hi, my name is Xxxxx Xxxxx my mom Xxxxxx referred you to me. I am interested in talking to you regarding a policy. I'm wanting to get for my grandma's more of a burial policy than anything. I'm just wanting to talk to you about it. If you could give me a call at your convenience xxx-xxx-xxxx Thank you. Bye.
Very normal
- 5,770
Yeah, just save the money you would spend on the premium and invest it. If she passes in the next year or so you should have way more than you need to pay for the funeral and some left over...
Really?!
So if your 78 its a bad deal cause your closer to passing, but if your 50 its a good fit cause you might live till your 78?
- Thread starter
- #7
jojojojojo
New Member
- 3
She has payments on a 50/50 home purchase with her boyfriend. Her half could be paid off, plus smaller debts and burial expenses. I would be paying the premiums, wonder how much they would be.
- 24,928
- 2,616
That's a good reason for doing it.
- 2,616
Hmm, perhaps you should look into a remedial reading comprehension class. Spelling and grammar, too.
