Household Life Insurance Company
Life Insurance in an ailing parent? How I can buy a policy from my mother?
I am the sole caretaker for my ailing mother, I have no brothers only a husband and a 4 / O and a baby on its way. My mother and I have been talking and she needs life insurance. I take care of everything with the family, bills, etc … but I a bit not knowing what to do about life insurance. Right now I'm about to get power over all things, but I am without experience of what life insurance. What are some good companies to go with? What I can get? I think she had a life insurance when she was working on about 5-6 years, but she has no idea of what happened to him .. so I'm taking matters into my own hands. Help? Has ALS (Lou Gehrig). In fact, I know for sure that the policy making A parent is not illegal, can only be required to prove "insurable interest." Ok, I hope someone else has something smart to say, I really need help.
Your mother will have difficulty obtaining life insurance for your circumstances. Others have already explained how you would get a high-risk policy (With expensive premiums and limitations on benefits). "Affordable" life insurance is virtually impossible for her. The policy of his mother had through their employer no longer exists. Would only have been good, if she was still working on that employer. (Exception if there was an option conversion, and his mother had been paying premiums since. Because she "did not know what happened to him," I guess that means that there has been premiums on their own this time.) Unfortunately, your mother must have thought about this for years, while it was still healthy (or less). I hope you and your husband's mother learned from her mistake, and make sure you buy life insurance now while you're still young and healthy. The older you get and / or if you get sick, most likely be stuck with higher premiums, limited benefit policies, or may not be able to get a policy at all. My husband and have policies independent, as well as receiving coverage through our employers, so that we still have coverage available to us, even if / when we leave today's standards. You and your husband should definitely do the same … especially since you have young children. If something happened to one of you, the spouse surviving the financial support needed to continue to provide for their children.
