Want to put dad in life insurance???

Question

I want to get life insurance for my father. Will I be the beneficery for him-after he passes away? Also, is a medical check required for this?

Thanks in advance for all of the positive answers.

Please- no funny idiotic comments.

thanks in advance.

Answer 1

bluecrossblueshield.com

Answer 2

WIth Nationwide insurance, you can get a policy for under 100,000 (say $99,000) without an exam.

You will be the beneficiary if he requests that you should be. It would make perfect sense for you to be since you are his son.

It is a good idea to get it now before he gets too much older. The price obviously goes up the older he gets. For nationwide, they only do up for 50 years for term. For a non-term policy they do up to 70 years old. Hope this helps!

Answer 3

......................we are gonna be reading about this in the paper i guaruntee!

Answer 4

Check out this site http://www.primerica.com/kathyreilly its a friend of mine she will take care of you. Shes very trust worthy, just tell her Mr Badgley referred you.

Answer 5

Your dad will have to participate in the process by signing the application and participating in the underwriting requirements, but you can set it up so that you pay the premiums, own the policy and name yourself as the beneficiary.

Answer 6

1. He will need a medical exam, since he is over 40 years old.

2.He will need to sign the application.

3. If you own the policy [pay for it] you can name yourself as the beneficiary. If he pays for it, he can name the beneficiary.

4. He will need to meet underwriting standards [ be in good health, or at least not in really bad health] be of good character [not in prison] and other qualifications.

You may read of "no medical exam" policies, but these do not have full effect for two years, and the cost is higher.

If you have car insurance through an agent, it's likely that he can also answer your questions about life insurance.

Answer 7

If you are the policy owner, you get to pick who the beneficiary is.  You ALSO get to pay the premiums.

You can't buy a policy on him, without his permission, his signature, his release of medical records, and if it's anything over $20,000, he WILL need a paramedical exam with blood and saliva tests.

Answer 8

if u think u gonna get rich after ur father passes away, that is rediclouse but if u love ur father and wanna do it for him do it.

Dont lose motivation and keep on the hard work my frind

Answer 9

Just ignore the mumbo-jumbo in answers 2 & 3. Ignorance is bliss.

There are companies out there that will write up to $100,000 without a medical exam, assuming he's in good health and qualifies age-wise. Even if he's not in good health, and not over 80, there is still help available.

The beneficiary will be the person he names in the application, who has an insurable interest.

It's not a bad thing to be thinking about insurance for your Dad. Someone will be responsible for "putting him away" when that time comes.

You didn't mention his age, but there may be a need for more than just final expense coverage. Call your local agent and request a review. If your dad needs one, have the agent do a Financial Need Analysis to determine the total need.

Start with your car insurance agent. I'm sure he/she can help.

Answer 10

You need his concurrence and yes, he will have to undergo a physical exam.