by j1126gar » Wed Jul 08, 2009 05:39 pm
I need to know if there are any insurance policies that my parents may have taken out because my father just passed in January of this year, but because he worked for the government, he fortunately had death benefits. My mom on the other hand has no insurance policy that I can find because if something happens to her, I have no money to take care of any funeral service.
Posted: Thu Jul 09, 2009 04:32 am Post Subject:
I need to know if there are any insurance policies that my parents may have taken out
Ask your mother she would know if your father had any insurance.
Skim through your father's documents, you may stumble upon the policy document amongst those.
By the way, have you already received the benefit of your father that you have mentioned?
My mom on the other hand has no insurance policy that I can find
When you know that your mother has no policy then a search would be futile. How about getting her a plan that would cover her and also restore your peace of mind?
Posted: Thu Jul 09, 2009 09:54 pm Post Subject: finding a policy for my mom
Is there an insurance company that would actually insure a person at the age of 89? I would really appreciate your feedback.
Posted: Thu Jul 09, 2009 11:31 pm Post Subject:
i dont think any insurance will insure at 89... INcase they do, they will boost up premium at sky high
Posted: Thu Jul 09, 2009 11:33 pm Post Subject:
here is a logical example... Say for example the current age is 89... Now expected life we take as another 10 years
Now if you go to a insurance, they will calculate something like this.... for a insurance of 100,000
100,000/ 10 ( total premiums you would pay per annum)= 10,000.
That would be your approx premium...
Posted: Fri Jul 10, 2009 08:44 am Post Subject:
Hi Jojo, are you the one who has started this thread?
There may not be many insurance options for someone 89 years old, but you may still have a chance to secure a policy for her.
However, if arranging for her funeral is your only requirement then you can get into a payment arrangement program with the funeral house.
Posted: Fri Jul 10, 2009 07:34 pm Post Subject:
Hello Jeorge,
That is a great suggestion, I really never thought of that.
Michael
Posted: Mon Jul 13, 2009 04:54 pm Post Subject:
To insure an 89 year-old would be a great risk for most life insurance companies. That might not possible, but you can give it a try. If they will approve it, the premium would be too high.
Posted: Mon Jul 13, 2009 06:08 pm Post Subject:
You may want to purchase a final expense policy for her.
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