Is There A Insuance Company That I Can Get Some Life Insurance On My Father Who Has Preexisting Conditon?
Posted August 23, 2009 – 4:51 pm in: structured settlements FAQmy father is 75 and has no life insurance. is there a way i can get insurance on him now with high blood pressure, diabeties,depression but no suicidal tendacies?
Tags: Company, Conditon, Father, Insuance, Insurance, Life, Preexisting, Some, That, There
14 Comments
United American has life insurance policies up to age eighty.
They are an A+ rated company by AM Best. They operate through out the country Request an agent though their website http://www.unitedamerican.com
They cost will reflect his age and health conditions but since life insurance goes directly to the beneficiary without being taxed as part of the estate for a lot of people it makes since. You also have pretty good odds of “beating” the insurance company. Paying significantly less in premium then the face value of the insurance. Ten year term would most likely be the least expensive but United American has some other options that might work better for you like reducing mortgage, or steady premium reducing term.
Yes, lots of them. You will pay about $100 a month for a 10,000 whole life policy for him if he is non-tobacco status. There are not a lot of companies who will write up to age 75 for a term policy though.
Any company that would issue him a policy would charge an extremely high premium for the insurance. The only way that he could get a reasonably priced policy would be if he was on a guaranteed issue plan or on a survivorship policy with a spouse. If you let me know what state your father lives in I may be able to get you together with an agent that can facilitate something for you. I used to work for a life insurance general agency and still have contacts there.
There are life insurance options available to a 75 year old, but it is likely to be very expensive. If his blood pressure is controlled with medication and his diabetes is type 1 and controlled with oral medication then you might find a company willing to insure him.
Depending on his level of control, this would be easy to get. Judging by the number of people who say it’s not possible, you don’t just need any life insurance broker. You need one who has experience dealing with these types of issues.
If he wants under $100k, AARP might be a good deal for all I know. If he wants more than that, check with a well qualified life insurance broker.
Hi
You can better consult an insurance adviser then asking here and there. Now in India there are sites that advice you through chatting or on phone by a representative so just apply on that and get answers to all of your queries.
You can consult here also http://www.paisawaisa.com/community/mrpaisa/mrmoney.aspx
Sadly, this is a situation I run across in the field most often. The people who want it cant get it ,and the people who dont want it, can qualify. Its screwed up, but that is just the way it is. Imagine going to buy car insurance right after you got into an accident. See my point. Get it while your young, I am 25, i got about 2 million on my life.
You are very unlikely to find a life insurance for someone that age.
Most life insurance company accept until the age of 66
You might try here though:http://www.financecomparator.co.uk/lifei…
It will be pretty costly to get him insurance. You would be better to open an annuity and make monthly contributions. The death benefit will only equal the amount you put in plus interest, but will at least guarantee premiums paid if the market falls any more.
It would probably be prohibitively expensive to get life insurance with his age & health (he is a very poor risk), if you even could. You could just take that money monthly and put it into some sort of account or liquid CD for him.
He is 75, has high blood pressure, diabeties,depression but he’s still working to support you financially? (Otherwise what are you insuring his life against?) Let him retire.
Virtually impossible.
Lookhttp://www.cybershimla.com/article213.ht…
I believe that AARP gives small policies.