I need to purchase life insurance for my 69 yrs old mother. She is generally in good health, just a slight cholesterol issue. Women in my family get up to 90 + yrs old. My job won't let me add her to my life insurance even though I am her caretaker. I need to purchase a private life insurance but I just don't know where to begin. Thank you so much for your help/advice.
Anonymous
Favorite Answer
You probably need a high risk life insurance agent. And frankly, at her age, you're not going to get 'good odds'. And if women her age REALLY live into their 90's, you'll probably do better putting that insurance premium - $1,000 a month or more - into an investment account.
StephenWeinstein
You don't need to purchase life insurance for her. The cost of having life insurance from age 69 to age 90+ is more than the life insurance pays when the person finally does die at age 90+. If you just take the money that you were going to spend on life insurance and put it in a bank account instead, and withdraw it when she dies, you will get more money than if you spent it on life insurance.
Kini
You can make your mother your beneficiary if you want to. Your mother has to consent to insurance and sign the paperwork.
Look at the top rated life insurance companies, then decide which type of insurance to buy. Why dont you consult an independent agent where you live. By phone or go to the office.
Rob
well find lots of extra money as life
insurance even for enough to bury
her is expensive at 69.
google insurance brokers simple
Don Drapers woman
Good luck on that one, if you find someone it will not be cheap due to her age.