Best Life Insurance Parents over 80


Health problems are a concern of many when looking to insure their parents over 80.

If your parents have health issues such as cancer, diabetes, heart disease, mental health issues they still can qualify.

The best Life Insurance for Parents over 80 is  a permanent life insurance policy that will not be outlived.

Permanent Life insurance options available include guaranteed issue life insurance, fully underwritten, and no medical exam life insurance.  When available, fully underwritten life insurance offers the most affordable life insurance.  


Can I purchase Life Insurance for my parents?


Purchasing Life Insurance for your Parents will require the consent of your parents. Without them agreeing to the policy, you would not have any insurable interest unless you have been designated their power of attorney or some other form of legal guardianship. This is to prevent people taking out policies for people they have no connection to simply to profit from their demise, and while it may not be your purpose for buying the coverage, the insurance companies will be concerned about your right to buy the policy.

Sons and daughters want to purchase life insurance on their parents, father and mother both or individually for father or mother. For this all you have to do is showing the company that your parents have “insurable interest” to get approval for the insurance.

What are the “insurable interests” that your parents may have?

–          Your parents may have outstanding debts and you will be responsible for these after their death.

–          You may have to pay some funeral or final expenses.

–          Your parents may have lots of assets and you will have to pay taxes.

–          You may have to pay their medical expenses.

There are many more but these are the most common cases. If you can show the company any of these reasons they may accept your request.

If you are deciding to purchase a life insurance on parents, don’t forget to inform your parents about it. It is important to take the signature of your parents and the beneficiaries at the time of underwriting. These things must be done correctly otherwise the insurance company may do delay to pay the insurance benefits money.


Where to shop for Life Insurance for Parents over 80?


Online quotes will often offer immediate comparisons from leading competitors, which gives you an overall view of what the rates will be and allows you to fine tune your search.

Shop now to compare Life Insurance for your parents over 80 HERE

Call us at tel 813 964 7100 to speak to one of our specialist.

Or drop us an email with your questions