Can you get life insurance for a 96 year old?

Question

We recently took guardianship of my grandmother and realized that she has no life insurance. If something were to happen to her, I don't know how we would pay her bills. I can't find anything online so I was curious if anyone knew.

Answer 1

NO one is going to insure someone that old.  If they did they would charge $110 for $100 of insurance.

Buy your life insurabce when you are young

Answer 2

OK, first of all, life insurance for a 96 year old is going to cost more than it pays out.  You're not going to get odds.

Second, you don't have to worry about bills, as debt is not inheritable.

If you still want to pay $12,000 up front, for a $10,000 policy, go see a local, high risk life insurance agent in your area.

Answer 3

Not that I am aware of.  In Canada the cut off is usually age 80 - 85.

Does she have a will? And does she have any assets?  If the answers are yes and yes than maybe money from her estate can pay the funeral.

Good luck!

Answer 4

No legitimate life insurance company will write a policy to a 96 year old woman.  

Also I'm not sure exactly what you meant about "paying her bills" but nobody will be responsible for the bills and debts in her name except for her.  As guardian do not start putting her stuff in your name.  You manage it for her, but do not cosign or transfer any of her stuff into your name.  If she dies the bills and debts go away.  If you cosign or transfer that stuff into your name then when she dies her debts and bills become your debts and bills.  

As far as funeral expenses go, you could just use any assets she has to pay for the funeral.  If she has absolutely nothing then you guys just need to have a little emergency fund set aside for a simple funeral for her.

Answer 5

I can write up to 95 and backdate up to 6 months.  If you have guardianship of her, that doesn't speak well to her health, so she's likely uninsurable.  You would have to buy a minimum of $100000 anyway, which is more than you imply you are looking for.  

If her bills are more than her assets at death, her estate would be settled as insolvent (happens all the time).  

Catz: Notice I don't tell people that sr22 would cost $20B?  Telling folks that a $10k life policy costs $12k lump sum is wreckless, at best.  Keep to your field of expertise please.

Answer 6

If she dies, you don't need to pay her bills.  Just let them default.  Her debts are not your debts.  The collectors can take everything she owned, which I'm betting isn't much, but can't touch your assets cuz its not your debt.  The only bill you will have to pay is for the funeral.

If you are making payments on her debt now, stop.  Let her declare bankruptcy.