My Mum does not have

by Guest » Thu Feb 19, 2009 10:47 am
Guest

My Mum does not have any life insurance. I don't want to have her insured so that my Brother and I get any money after her death just so that we can cover funeral expenses but I'm not sure if we are permitted to do this, can anyone help??

Total Comments: 15

Posted: Tue Mar 24, 2009 11:27 am Post Subject:

yes, it is possible to get your mum a policy. she'll have to consent to it, of course. but before that, what is the age of your mother? how is her health condition? you'll need to decide what kind of policy is best suited for you, your brother and your mum. (since you and your brother will probably be the ones paying for it)

Posted: Tue Mar 24, 2009 02:00 pm Post Subject:

Well I'm not the right person to answer to the question. But I think you should read the posts by Findyourpolicy. Some important points you should consider before taking any decision.

Posted: Sun Apr 05, 2009 11:06 pm Post Subject:

"I would be careful about this one. For example, Lincoln Benefit Life does not allow a third party payor. If you go with a company like this they will insist that your mother pay for the policy herself or they will not take the coverage. I unfortunately did not know this and because of me not checking, I could not change the process after the fact and they would not cover my client for 2 years. I had to go to another carrier that did not care about a third party payor. I suggest you check with many different carriers and ask how they feel about a third party payor.
Michael"


When she buys a policy on her mother's life, the original poster will be the owner and beneficiary of the policy. There is nothing third party about this. The concern is with STOLI (stranger owned life insurance). This is not the case here. The owner is paying the premium.

Posted: Mon Apr 06, 2009 08:15 am Post Subject: hi

i can not understand why you do not want to take life insurance for your mother,
if you dont like to do insurance its your decision you have to search for companies who are providing insurance for funeral expances or take insurance policy for that much amount which you require for mother's funeral

Posted: Mon Apr 06, 2009 12:29 pm Post Subject:

Insurance Expert has some good points :!:

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