by Chris Bantly » Tue Jul 14, 2009 04:54 pm
Now that I've made my title an alliteration, I can ask my question! Not that I want to make a niche of it, but I was asked a question by one of the agents yesterday and I had honestly never considered the following:
Are there any insurance companies that will allow a life insurance policy to be purchased on an incarcerated individual?
The scenario is two parents are attempting to get life insurance on their son (mid 30's) who also has a son that would need to be supported if something happened to him. I don't know what he did, nor do I know how long he will be in jail. I didn't see it as a problem, but apparently it is!
My thought is that they are in a relatively safe place, but I guess the insurance companies do not see it this way. Can anyone shed some light?
Are there any insurance companies that will allow a life insurance policy to be purchased on an incarcerated individual?
The scenario is two parents are attempting to get life insurance on their son (mid 30's) who also has a son that would need to be supported if something happened to him. I don't know what he did, nor do I know how long he will be in jail. I didn't see it as a problem, but apparently it is!
My thought is that they are in a relatively safe place, but I guess the insurance companies do not see it this way. Can anyone shed some light?
Posted: Thu Jun 24, 2010 03:27 am Post Subject: My husband has been in jail 19 years
My husband has been in jail for the past 19 years, so are you telling me that I cant get no life insurance on my husband, that sucks...
Posted: Thu Jun 24, 2010 03:38 am Post Subject:
I can't tell if that post is serious or not...
Posted: Fri Jun 25, 2010 02:25 am Post Subject: insurance
(Just assuming thelast post is legit..) 19 years is a long time to wait for someone. i would say you can't get Insurance, on him, because he is at 'high risk' right now.
Posted: Wed Sep 08, 2010 04:25 pm Post Subject: incarcerated person life insurance
Is there ANY company in the USA that will provide life insurance coverage for a minimum security inmate? No one is TRYING TO MAKE A FAST BUCK! I am concerned because the financial burden will fall on me IF my brother dies while in prison. I cannot afford to pay 10K or more for a funeral!!! That is what the insurance is for. I only want a policy that will be right at the amount it will cost for a basic funeral, which I do not know how much it cost.
Posted: Thu Sep 09, 2010 03:21 am Post Subject:
Should be coverable with a final expense policy. Or at the very least a burial insurance arrangement at a funeral home.
Posted: Thu Sep 09, 2010 05:48 pm Post Subject:
IF my brother dies while in prison. I cannot afford to pay 10K or more for a funeral!!
First, BNTRS is correct, even while incarcerated, your brother could probably obtain a final expense policy, or you could on his behalf, although he will have to sign the application and someone would have to figure out how to conduct any required medical testing/examinations.
On the other hand, if an inmate dies while incarcerated and the family refuses to claim the body (or there is no family), the remains will either be buried at state expense (some older prisons still have burial grounds), or, more likely, cremated at state expense. You would not be charged for that.
Posted: Sat Jan 29, 2011 04:13 am Post Subject: Insurance on Inmates in Prison
This is an issue for families to insure their loved ones in prison. I believe life insurance should be for everyone - we all are going to die - its just a matter of time and a basic policy $25k is sufficient - some money to bury the person and some for family members to grieve - take some time off work to get their life back in order. The premiums of course would be higher because of the high risk. Send me an email if you find a company that do insure inmates. Thanks.
Posted: Sat Mar 05, 2011 09:42 pm Post Subject: Health Insurance for Incarcerated Individuals
For my fiance to be released to parole he must obtain medical insurance. My local company agreed with a high balance however the underwriters have refused to accept him. Do you know of any companies that will insure individuals who are trying to make parole but are locked up at this time?
Posted: Mon Jul 04, 2011 06:39 am Post Subject:
For my fiance to be released to parole he must obtain medical insurance.
Never heard of such a thing. In what state?
Posted: Tue Jul 26, 2011 01:37 pm Post Subject: Incarcerated life insurance
If they had a policy before they were incarcerated, the policy could continue. That would be one reason to keep paying premiums on life policies as they can't get it once they are in prison. If your concern is just burial expenses, a preneed (burial) policy might be something to look into. I honestly don't know if they would accept it or not, but might potentially meet the need. Working with a local funeral home or independent agent could help. Just as examples, Assurant and Homesteaders offer policies of this type, but may have the same restrictions as the other more traditional life policies.
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