Mental capability

[suranceman]

I'm just saying that, if they can be covered, the sister can do the application and sign as POA.

Which company to choose... who would actually insure him... that's a whole other issue.

But a POA has the legal capacity to answer the questions. That's all I'm saying.

I understand what you're saying. But you're forgetting that the insurance companies set their own standards.

No insurance company I've ever heard of will allow a POA to answer the questions for the insured and sign on their behalf.

Even if the insured has no health issues and all they have is the mental incapacity issue, they will not accept them. They won't allow a POA to apply for them.

I'm not trying to "call you out". I'm just trying to clarify for folks that POA is irrelevant when it comes to applying for life insurance.

If anyone knows of a carrier that will actually allow this, please share.

 

[Lawsonhj1]

I am wondering about the possibility of a limited pay through one of the preneed type companies that have similar apps and signature guidelines for the final expense product and make it irrevocable. The reason I am wondering I don't think I have any of those available.

 

[fed up]

In a world of internet applications I am surprised that this is even an issue. The MIB might be the only stone that muddles an application.

 

[inreverse]

A pre need plan is the way to "go",
poa and family members can sign with
many companies.
Ownership will have to be addressed for medicaid issues.

 

[Life Hawk]

I understand what you're saying. But you're forgetting that the insurance companies set their own standards.

No insurance company I've ever heard of will allow a POA to answer the questions for the insured and sign on their behalf.

Even if the insured has no health issues and all they have is the mental incapacity issue, they will not accept them. They won't allow a POA to apply for them.

I'm not trying to "call you out". I'm just trying to clarify for folks that POA is irrelevant when it comes to applying for life insurance.

If anyone knows of a carrier that will actually allow this, please share.

Didn't Presidential Life allow for that back in the day. It seems like to me they did at one time, but that was long ago and far away. Never wrote any, so I could very well be mistaken.

Anyone...?

 

[theinsuranceman]

I understand what you're saying. But you're forgetting that the insurance companies set their own standards.

No insurance company I've ever heard of will allow a POA to answer the questions for the insured and sign on their behalf.

Even if the insured has no health issues and all they have is the mental incapacity issue, they will not accept them. They won't allow a POA to apply for them.

I'm not trying to "call you out". I'm just trying to clarify for folks that POA is irrelevant when it comes to applying for life insurance.

If anyone knows of a carrier that will actually allow this, please share.

Sr Life will allow the POA do everything on the app without proposed insured's signature or input. Has to be GI only and POA is the policy owner. If anyone needs a contract for these unique situations call me anytime.

 

[Lawsonhj1]

Prosperity New Vista agent guide will take POA with medical records, and if a bit slow from a car accident my thoughts are would qualify based on application questions maybe I'm missing something and if so someone will point me in the right direction I'm just trying to learn here.