It is currently grasped that whenever any person would like to procure life insurance plan, he needs to make a decision rapidly and the younger he is when he gets a life insurance plan, the cheaper the premiums can get. There is a big difference in the cost of premium for life insurance plan between a twenty-year-old father and a fifty-year-old dad. That is why, even though a 60-year-old individual can procure life insurance plan, it would still be useless for him to buy one because that would mean lots of investment on his part. So, what about those parents who are already old? Because it would be a lot of risk and a lot heavier for their pockets to purchase life insurance policy, any of their children can decide to purchase no physical life insurance for parents. They can opt to purchase life insurance policy for themselves and put their parents as their beneficiary or they can purchase life insurance policy in behalf of their parents and put their names as the beneficiaries.
Of course, they can and it is really up to the decision of a particular life insurance policy company if they will accommodate such life insurance policy application or not. Probably, the valid reason why an older parent would like to purchase life insurance policy so his wife and children can get the insured money to use it for his burial expenses in case he dies anytime. But, the premium cost can be very expensive. And since purchasing life insurance coverage for people who are already old is expensive, is there such a thing as children purchasing no physical life insurance for parents? Yes, they can certainly purchase life insurance policy in behalf of their parents and indicate themselves as the beneficiaries.
There are actually a lot of people who will buy life insurance plan in behalf of their parents and then, they will make up a number of stories about an "accidental death" or death resulting from natural means or sickness while, in fact, the parent died by suicide or he actually killed his parents so that he can get the money. You may have already heard countless stories about people purchasing life insurance for their parents or even for their older relatives, put their name as beneficiary, then, kill that policy holder and make it look like it's an accidental death or death due to illness and then, gets the insured money.
For example, you can claim that as their child, you'll be responsible for funeral expenditures which will set you back $20,000 or so. You can also buy life insurance plan for them if they have a large amount of debt that you will be forced to settle on their deaths. If the parents are living with that person and they are the ones providing care for their grandchildren, then, a person would want to insure that cost of alternative childcare for your kids. There are always some different factors and many different situation that will help the life insurance plan company decide if you are qualified to procure life insurance plan for your parents.
However, there are some people who are wondering if this kind of transaction between them and a life insurance plan is legitimate or not. The answer is, yes, it is definitely legitimate. No physical life insurance for parents is just as legit as buying life insurance plan for people whose recipients are their immediate families or life insurance plan for people with certain health problems or even with felony conviction such as " drunk driving ". What someone or you needs to do is to do a lot of homework first to ensure that the life insurance plan company that you or someone will decide can give the best benefits at a price that everybody can pay for.
Of course, they can and it is really up to the decision of a particular life insurance policy company if they will accommodate such life insurance policy application or not. Probably, the valid reason why an older parent would like to purchase life insurance policy so his wife and children can get the insured money to use it for his burial expenses in case he dies anytime. But, the premium cost can be very expensive. And since purchasing life insurance coverage for people who are already old is expensive, is there such a thing as children purchasing no physical life insurance for parents? Yes, they can certainly purchase life insurance policy in behalf of their parents and indicate themselves as the beneficiaries.
There are actually a lot of people who will buy life insurance plan in behalf of their parents and then, they will make up a number of stories about an "accidental death" or death resulting from natural means or sickness while, in fact, the parent died by suicide or he actually killed his parents so that he can get the money. You may have already heard countless stories about people purchasing life insurance for their parents or even for their older relatives, put their name as beneficiary, then, kill that policy holder and make it look like it's an accidental death or death due to illness and then, gets the insured money.
For example, you can claim that as their child, you'll be responsible for funeral expenditures which will set you back $20,000 or so. You can also buy life insurance plan for them if they have a large amount of debt that you will be forced to settle on their deaths. If the parents are living with that person and they are the ones providing care for their grandchildren, then, a person would want to insure that cost of alternative childcare for your kids. There are always some different factors and many different situation that will help the life insurance plan company decide if you are qualified to procure life insurance plan for your parents.
However, there are some people who are wondering if this kind of transaction between them and a life insurance plan is legitimate or not. The answer is, yes, it is definitely legitimate. No physical life insurance for parents is just as legit as buying life insurance plan for people whose recipients are their immediate families or life insurance plan for people with certain health problems or even with felony conviction such as " drunk driving ". What someone or you needs to do is to do a lot of homework first to ensure that the life insurance plan company that you or someone will decide can give the best benefits at a price that everybody can pay for.
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Looking to find the best deal on no medical exam life insurance, find the best advice on life insurance coverage for you.
This article collected, selected and written by: Author Van Hoc
Niche blogs are sometimes referred to as splogs, but this is a misnomer. Even though the desired end result for the niche blogger is to make money...
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