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I have a client that wants to get 10K worth of coverage for their 20 year old grandson. I think they want to do Mons 10 pay, but they are afraid of what the grandson will do with the policy once they die.
Can they be both owner and payor? I would assume I would still need the grandson present to answer the health questions.
And the real question is what happens after they die? They have a will set up and they would want it to go into their estate. Their executor would continue to pay the premiums if needed. The executor is the uncle of said grandson.
What is the best way to set this up?
Can they be both owner and payor? I would assume I would still need the grandson present to answer the health questions.
And the real question is what happens after they die? They have a will set up and they would want it to go into their estate. Their executor would continue to pay the premiums if needed. The executor is the uncle of said grandson.
What is the best way to set this up?