Can I buy insurance for my mother?

Question

I live in Virgina and my mother lives in Alabama, she has insurance, but I'm concerned that it's not enough especially with cost of funeral expenses increasing annually. She is okay with me getting additional insurance on her.

Answer 1

Yes you can buy insurance for your mother though you stay in different location than her,

First get in touch with good advisor on insurance, take policy paper and ask him/her where signatures will be required.  The same co. must be having local office in the town where your mother stays so you can ask her to collect the form and sign there, make the payment mode as the auto debit from bank and give your a/c no. for the same.

Answer 2

First off you'll need to speak to an independent agent that is licensed in Alabama. Many of your local Virginia agents probably won't be able help you. The agent can help you find the best plan for your mom and they don't charge any extra.

Depending upon her age, health, and the amount of her current policy a new policy may not be cost effective. The agent can explain the costs but you'll need to do the math. You may be better off saving the premium in a savings account.

Answer 3

First check with your authorities on the legality on their requirements. It is good that you are concerned about her, however be cautious because she is old and she might need a funeral plan. You must first investigate what is your and her need. Should She pass away a funeral cover is a definitely yes. She is to old to look for a long term life insurance, rather look at a term policy for a shorter period and when the term expire she will be able to get a few rand out that she can keep as extra cash