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Can you get a life insurance plan for you parents?

My mom makes VERY little money, has TONS of debt and doesn't have life insurance plan?

Her health isn't great and my sister's and I are all in college so if something were to happen we wouldn't be able to afford to burry her!

Can I take out a small life insurance plan for her?

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Anonymous

Asked by Anonymous at 11:37 PM on Aug. 13, 2009 in Politics & Current Events

Answers (4)
  • I believe so, but for the amount of money you will have to pay for the coverage with her poor health, you might be better just setting that monthly premium aside in a special account to save up for it. You might also discuss options with her; you might find that she has insurance available that you aren't aware of.
    Anonymous

    Answer by Anonymous at 11:41 PM on Aug. 13, 2009

  • I agree with the previous poster. Life insurance probably won't be a good deal if she is in poor health.

    Another alternative is burial insurance. You basically pay in advance for the funeral costs, and the price is locked it. Contact the funeral parlors in your area and ask about it.
    mancosmomma

    Answer by mancosmomma at 11:49 PM on Aug. 13, 2009

  • I think you can get a life insurance plan on almost anyone. Just make sure that person doesn't kick the bucket too soon. It makes you look rather suspicious. Oh, I bought my mom and dad $500K worth of life insurance 2 months ago and then they "d-i-e-d" (we spell what we can't say). If they have reached a certain age and with certain companies, they may have to take a physical.
    jesse123456

    Answer by jesse123456 at 12:47 AM on Aug. 14, 2009

  • Yes you can . Term life insurance may be your best and most affordable option.
    jamiinvegas

    Answer by jamiinvegas at 1:43 PM on Aug. 14, 2009

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