Is it possible to insure a grandparent with health issues?
Posted by Dolores
Yep, Its me! asked:
My grandmother has some health issues and no life insurance. My uncle and mother have made poor financial decisions with their lives and I know that when the time comes, there will not be adequate funding for my grandmothers funeral expenses. is there something I can do now, before she passes away that will lessen the financial impact?
CHANCE
My grandmother has some health issues and no life insurance. My uncle and mother have made poor financial decisions with their lives and I know that when the time comes, there will not be adequate funding for my grandmothers funeral expenses. is there something I can do now, before she passes away that will lessen the financial impact?
CHANCE
October 14th, 2008 at 12:56 am
yes !
anything /body can be insured .
October 16th, 2008 at 4:46 pm
There are insurance companies set up for this reason.
Not cheap, but cheaper than having to come up with the money in one lump sum.
Call the AARP (American Association for Retired People) 1-888-OUR-AARP (1-888-687-2277), Monday-Friday, 7 a.m. - 12 midnight EST or visit their website (www.aarp.org) and ask them for companies they endorse.
I know that Centennial Life and a few others guarantee life insurance for seniors even with health issues. Just make sure you find one that does not require an upfront physical, nor allow increases in premiums.
Like I said, it won’t be cheap, but much cheaper than waiting to pay at once.
Also, another thought is that many funeral homes offer prepayment and pre-planning for funerals where you pay a monthly fee now and don’t have to deal with all the crap when she passes.
Keep in mind though, that your Grandma may not afford this, so either you, your mom or her brother would have to pay.
Or, just wait till she passes and deal with it all then. At least that way your Grandma would not have to pay.
Good luck, you are a thoughtful granddaughter.
October 17th, 2008 at 1:56 pm
There are several carriers that offer what’s known as gauranteed issue life insurance. It’s very expensive, but it doesn’t matter what the health history is, you basically just pay the premiums and you’re covered.
You’re best bet is to contact a lisensed insurance broker that offers regular insurance as well as gauranteed issue. Different companies look at different health issues/conditions differently. The health issues your parents have may not even effect their insurability (hard to say without knowing what they have). A broker would be able to assess your situation and make a proper recommendation as to what type of insurance would be best to apply for.
October 18th, 2008 at 12:24 am
As far as my knowledge,this is a question with various answers,it is really depending on the mind of yourself,providing a great resource here for reference though.
October 19th, 2008 at 5:03 am
As a hobbist in this area,I would suggest you take a look here ,there are helpful tips there
October 19th, 2008 at 7:07 pm
i had a stroke and brain surgery.
i have life insurance and health insurance too.
so sprinkleberry is correct, Yes anybody or anything can be insured !
loydes of London insures leg,fingers and voices. hows that for proof ?