To buy life insurance for a parent, start by contacting an agency that specializes in final expense life insurance. I have found that when a child is buying life insurance for a parent, most parents would rather not take an exam. Final Expense Life Insurance agents have a broad range of policies, and can accommodate that desire to avoid an exam, if that is preferred.
You will want to gather your parent's health history, or have your parent prepared to get on the phone to answer health questions with a life insurance representative. A list of their medications and incidences of illness or hospitalizations in the past 10 years are helpful to know to get the best price.
If you want the policy to be for final expense needs, you will most likely want permanent life insurance. Be sure to get a policy that will not go up in price, or you could end up being unable to afford the policy before it is needed.
.JPG){kind=avatar}
You will want to gather your parent's health history, or have your parent prepared to get on the phone to answer health questions with a life insurance representative. A list of their medications and incidences of illness or hospitalizations in the past 10 years are helpful to know to get the best price.
If you want the policy to be for final expense needs, you will most likely want permanent life insurance. Be sure to get a policy that will not go up in price, or you could end up being unable to afford the policy before it is needed.