What is the best insurance company to take out a policy on someone else?
My mom is getting pretty old and my sister and I would like to have something in place to help offset the costs in the event of her death. So, are there any suggestions as to companies that we could look in to in order to get a small life insurance policy for her?
BTW my mom is only 55 yrs old.
good luck finding a policy or one you can even afford. life insurance is based on the insurability of the person being insured.
liberty national
they are the best
55 is not old. Hopefully your mom is in good health and does not smoke. If that is the case, she can probly get a reasonable priced policy.
Take a term policy with level payments for 20 or 30 years. Shop around. Start with the company that carries your homeowners and/or auto insurance. You get the most discounts if you keep all your insurance with one company. Start with the Big carriers. I am biased because I work in a State Farm office. So, I think they are best.
But you can also call Prudential, Farmers, Allstate. All companies are better competitive with their rates. Just ask for term. Don’t let an agent sell you anything else.
And to unbaised, I am in CA and can sell this person a policy too but you are not suppose to ask for business here on this website. And, I think your suppose to post your license number any time you give a quote.
And, I like Katherine’s idea of just pre-paying for funeral expenses. That is a great. This way you see where your money goes and you never loose it later if you can not afford to pay premiums on a life insurance policy.
55 is pretty old? Well, it’s all relative, I guess. I got a 20 year level term policy at age 56 – it is indeed possible. But of course she has to concur with the action.
You talk to a local, independent agent. They’ll set up the medical exam for her, and help her fill out the application.
You can’t do it without her permission and cooperation. And at her age, it’s NOT going to be cheap.
Rather than insurance, why not just save money to put towards her funeral? Ask her to pre-plan her funeral to see what it would cost, or go to a funeral home and ask. Let’s say it’s $6,000, and that your mother doesn’t have cancer or anything. Let’s say that you and your sister each agree to save just $1 a day for this (the same amount as for insurance), and that you have the money automatically deducted and put into CD’s. You would have enough money before your mom turns 60 and if you didn’t or she died sooner, I’m sure the funeral home would let you make payments.
you need a simple life insurance policy