All Life Insurance Tips

what is the best and most affordable whole life insurance i can get for my mother who is 77?

what's the best and most affordable whole life policy i can get for my mother who is 77 and has numerous health concerns?

Public Comments

1. Whole life at age 77 is not realistic.
2. even if your mother were to find a whole life policy at age 77 and numerous health concerns, her premiums would most likely be astronomical. in other words, the same money in a savings account would be more feasible or invested. what others will tell you is that she has numerous health concerns and age 77, so this would most likely preclude her finding any policy anywhere to cover her. and if even she could, there most likely would be a clause not payable for miniumum of 2 years. it is like someone who has no health insurance and looking to buy health insurance for someone who is diagnosed with cancer and would need up to half a million to pay for surgery and chemotherapy and/or radiation. no insurance company would touch that due to the impending costs and if they did would soon go bankrupt if they continue to do this. my suggestion is to have your mother set up a savings account to pay for future funeral expenses and/or money she might want to leave her family once she is gone. hopefully your mother will be around for many years. good luck
3. state farm, there really friendly and nice
4. Yes you can get coverage even if she has health issues. Yes, she could save the money in an account and let's say she was paying 90 bucks a month for $10,000 of coverage, she would then have to save for about 9yrs to have that equal to the 10,000. What if, God forbid, something happens sooner then you would only have the amount saved to help pay for cost. If she is in pretty decent health even with diabetes,high blood pressure or even had a heart attack 2 or more yrs ago there are companies out there that will insure her with Immediate benefits and not a graded benefit where you would have to wait 2 to 3 yrs for the whole face amount. the lowest I had seen for a 77 female non smoker , decent health was $88 for 10,000 of coverage
5. OK, at 77, it's ALL whole life insurance. and by affordable, if that means, they pay out more than you pay in - it doesn't exist. She's too old, she's already past her projected life expectancy. To get ANY whole life insurance, you'll be doing a paid in full policy - which will be AT LEAST the face value of the policy, and probably face value plus 10%. Obviously, that means, you're better off paying out of pocket for her funeral costs. Also obviously, at least to me, that means if you're SERIOUS about life insurance, NOW is the time to make sure YOU have it. Learn the lesson from your mother.