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Can A Child Open A Life Insurance Policy For A Parent?

Funeral Insurance, Term Insurance and Burial Insurance

Can A Child Open A Life Insurance Policy For A Parent?

Postby Wahchinksapa » Thu May 11, 2017 10:47 am

Yes, with her permission and cooperation.


Debt isn't inheritable, so you can't be "stuck" with it.
You're not even obligated to pay for a funeral for her (although no funeral parlor is required to bury her, if no one pays for it).
Wahchinksapa
 
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Can A Child Open A Life Insurance Policy For A Parent?

Postby Maed » Sat May 13, 2017 2:46 pm

In some cases you can open life insurance for parents, but better call expert and ask your question.
They also will offer you several life insurance plans to choose, so you can save up to 40% on average Below is the number;

877-249-1730
Maed
 
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Can A Child Open A Life Insurance Policy For A Parent?

Postby Arlee » Thu May 18, 2017 6:35 pm

No, most are not so complex & complicated.
Arlee
 
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Can A Child Open A Life Insurance Policy For A Parent?

Postby DevIyn » Sat May 20, 2017 12:26 am

It would be much easier like Flower said to just prepay on some funeral expenses.
Depending on your parents age and health it may not be worth it to get life insurance.
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Can A Child Open A Life Insurance Policy For A Parent?

Postby Bernald » Mon May 22, 2017 1:59 am

You wont get stuck because you are not liable for her unpaid bills. Creditors do play on the family's guilt and try to get the money out of them after someone has died. Someone should pay for the funeral. You dont need life insurance for that. You buy a pre-need burial plan and cemetery plot. But even that must be paid in full to use it. If she consents and agrees to life insurance she has to sign the paperwork and you must pay the premiums and if you stop paying, and if she lives for 20 years, you have nothing to show for all the payments, whereas once you purchase a pre-need plan, you have a tangible asset and cemetery plots go up in value.
Bernald
 
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Can A Child Open A Life Insurance Policy For A Parent?

Postby Derby » Fri Jun 09, 2017 7:47 am

When a person dies, the debt dies with them.

If she has no assets, then there is nothing these debt collectors can get.

If she has assets, the debt will have to be paid from the estate.

You can open a policy with her permission.
You will pay the premiums.

How old is she? Keep in mind that if she is older it could cost thousands a year for any significant amount of coverage.

You may be better off, putting these thousands of dollars into a savings account in the event of her death to pay for the funeral expenses.

Don't get conned into whole life or cash value.
Stick to term insurance in case you STILL want to get insurance for an elderly person.
Derby
 
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