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Can a son take out life insurance policy on his 75 year old mother?
Wiki User
∙ 14y ago
Why not? Of course, especially if there is an "insurable interest." Just by virtue of the family relationship, this would be allowed as long as the amount was justifiable (financial underwriting).
Wiki User
∙ 14y ago
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Should you still be paying life insurance premiums at 87 years of age?
At age 87 I would imagine you have a whole life policy and it is probably paying dividends. The dividends may be enough to pay the annual premium or at the very least a portion of it. If this is the case you could probably arrange for such and no longer make premium payments. Call the insurance companies customer service department or your agent and inquire. Be careful of churning where they may suggest using cash values of one policy to take out and pay for another policy.
Who do life insurance for 91 year old?
nobody. unless you have a great policy in effect that you bought when you were much younger, there isnt a policy for you. I have been searching for my 91 year old grandfathers insurance plan at aarp, met life, hartford, new york life, etc... nobody will take over age 85. most wont take over age 74. think about it from their point of view. the reason they are in business is because they get monthly payments for many years. if you are 91, they will not be making money (most likely). they will probably lose money. I know of one company that goes to age 99 (AXA Equitable) and one that goes to age 89 and no exam required (Genworth Life - simplified whole life). mcdlife.com
Can a grandparent take out life insurance on a grandchild?
Yes. Try the Gerber Grow Up Plan. They offer that for grandparents to take out on their grandchildren.
How do you find out if grandparents had Life Insurance policies?
To find out if your grandparents had life insurance policies, you can start by checking their financial documents, such as bank statements and tax returns, as they may have listed any life insurance policies they held. You can also reach out to their insurance agent or company to inquire about any existing policies. Additionally, contacting their attorney or executor of their estate can help provide information about any life insurance policies they may have had.
In PA can a grandparent have insurable interest in a grandchild in order to get a life insurance policy on them?
Yes it seems. Think of a situation where parents are either not surviving or deserted their children and it is the grandfather who is the only surviving responsible member to take care of grand child then it may be presumed that grand father is carrying an insurable interest in grand child as being the nearest in blood propenquity. Surjit.
Can a daughter take out a life insurance policy on her mother?
Yes you can. Your mother would have to sign as the applicant, and you as the owner. Also the insurance company may want to know the reason for the policy and its purpose.
How long does it take to get the claim check from a life insurance policy?
my mother pased away on 4/28 and the funeral home filed her life insurance on the 29 or 30 how long does that take to receive a check for life insurance
How can you find out if your deceased mother had a life insurance policy?
My best friends mother passed away last August. She had spoke of a life insurance policy that she had taken on herself years before she passed away,however no one in the family knows how to locate it. What steps do the family need to take to find this insurance policy?
Can you take out a life insurance policy on any individual you wish to?
no. there are laws for life insurance policy and is illegal to take it out to any individual
Can i buy a life insurance policy on anyone?
No. You have to have an insurable interest in the person's life in order to take out an insurance policy on their life.
Can a wife take out a life insurance policy on her husband?
yes you can just go to a insurance place and take out insurance policy he will have to be there also,
How long does it take to cancel your life insurance policy?
I have a whole life insurance policy, how long does it take to cancel it, also can I get money back from it.
Can a mother take out a life insurance policy on her married daughter?
Only if her married daughter is under 18, then yes. Otherwise, the answer is no.
Can i take out a term life insurance policy then quickly sell it?
No, because Term Life insurance policy has NO cash value.
Can you take out a life insurance policy on your mom if she has HIV?
This may be possible - but it would be most likely a quite expensive life insurance policy.
Who can own a life insurance policy on you?
A husband can buy a life insurance for his wife. Husband becomes the proposer and he is also the beneficiary in case of any unfortunate death of wife. Similarly a working wife can also propose a policy for her husband. Father or mother can take out a life insurance policy for their children. Children cannot take out life insurance policy on their parents name as there is no insurable interest for them to do so. Almost anyone with relationship interest can be the owner of someone else's life insurance policy. The further removed the proposed owner is form the insured, the harder it will be to explain ownership. Note that corporations can also be the owner of policies.
How does life insurance provide for a family in cases of suicide?
In case of suicide, the insurance company will not provide any compensation for the family of the policy holder. Life insurance will only take care of the family of the policy holder when he does not take his own life.
