Anyone have any life insurance on your grandparents. Trying to find one for my grandma whos 83 . But all of them so far…
Anyone have any life insurance on your grandparents. Trying to find one for my grandma whos 83 . But all of them so far stop at 75. Anyone know of a good one ?
Mamabirdddd·
Ya there’s usually an age limit bc the policy wouldn’t really pay for itself if she unfortunately passes away in the next few years.
Linden·
At 80+ really the only option available to her now would be whole life and it's gonna be EXPENSIVE. Add in any health conditions, if she's on a fixed income there will be NO way for her to swing it. The insurance rates are based largely on risk factors. An over 80 year old woman is nothing but risk. This type of policy is also not be renewable past the age of 85. If she's healthy and spry, it's just going to be a waste of a BUNCH of money over 2 years.
At this stage of the game the policies for this age group are usually sold under the label "burial insurance plans" or "final expense plans". Maybe try googling those things and see what comes up.
Laws will vary by state, I'm only licensed here in OKlahoma, so what I'm sayin may be more valid here. Worth a look though.
🤷♀️
If you don't mind me asking, why is this something that's just being discussed at the age of 83? Do people not know to get this kinda stuff in your twenties, when you're young, healthy and cheap to insure? Then you get to stay locked in at the cheap price. I thought that was common practice? Is it not and we're just weird?? 🤣
**ETA; Colonial Penn and Choice Mutual are 2 companies I know of that write these types of policies.**
Lindsey··
This.
We’ve had ours in place since I was 21! And already have policies locked in for the kids to be grandfathered in for next to nothing. As morbid as it sounds, I’d never want to be a burden to my family financially if something were to happen to me tomorrow. I need to know they’ll have what they need without worry.
Linden··
🙌 We've had a policy on Kai since birth. It's been growing with him already. He'll be sittin pretty good for retirement by the time he leavea for college and even starts adding anything to it himself! Worth EVERY penny to set my child up for the future as well as protect against the atrocities of life. WHY would you NOT want to do that?? 🤯
Jessie Lauvray··
Well I'm just now looking into it. My uncle has one on her but I don't feel it will be used for HER. I think he will use it for himself because he's been being really rude and disrespectful to her. Yes its his own mother. I just wanted to see if there was something I could look into about getting for her so when the time comes I will KNOW everything for her will be planned out and taken care of. Had I of known it was going to be like this I would've got one for her myself at the age of 73 . Shes now 83 almost 84 this year and things have sadly taken the turn for the worse with my uncle and his non sense.