Potential client (here in Texas) has a "friend" (58 YO tobacco male) who lives with her as a renter. He was recently dx'd with severe Crohn's disease...possibly cancer (no money to verify cancer dx)...he is insolvent, unable to work now and has no one else to care for him. She has an insurable interest (he owes her several thousand dollars) plus she has relyed upon his rental income. Now she is his sole provider (in terms of a residence/meals/transportation, etc.) and she is considering insuring him in exchange for his continued care and residence with her. Here in Texas, it's my understanding - she can pay for his life policy (and be his designated heir) so, I'm thinking of suggesting a non-medical/GI policy be purchased. From what I've seen, GI's are limited to $25,000. Can she purchase only ONE policy or may she purchase multiple life policies to cover expenses exceeding $25,000? In other words, how many life policies may a person have on another (non-relative) person?
Multiple Life Policies?
- Thread starter txnewbie
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