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Life insurance for 15,000 or more...for someone 65 or older..no health questions.?

My father is 69 years old, and wants to take out more life insurance, but is having trouble finding a suitable policy for his needs, colonial penn only wanted to give him 5k in coverage...and he is looking for AT LEAST 15k...He already has life insurance for 15k with aarp/nylife. I was wondering if anyone knew of another life insurance company who could give him at least another 15k, without asking health questions, like aarp/nylife? I told him that I would check on the net to see if I could find something for him, so your help would be appreciated... thanks!:)

Public Comments

1. You are in the wrong YA category. Go to "Business & Finance/Insurance".
2. He should consider getting an annuity and put in $15k into it. Annuities have two phases. Phase 1 is the accumulation phase. In this phase he can put in as much money as he wants into it. If he dies during this phase, the annuity will pay the greater of the current account value or the total amount he put in. For example, if he put in $15k and the account value was $20k, $20k will be paid out to the beneficiary. Phase 2 is the annuitant phase. He must pick a date for which he wants to start receiving payments. Once the payment starts, he can not put in any more money into it. Also, it will not pay a death benefit to the beneficiary. This phase is where money will pay lifetime income to your dad until he passes away. It may continue to pay to his survivors such as his wife or children.