Life insurance elderly parent over 80. Any suggestions?

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Life insurance over 80 is a good subject of concern. I want suggestion to purchase guarantee life insurance without any problem so that I can get whenever I want at premium rate. Any suggestion please?

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Policy premium will be high for an 80 yr old I would believe.
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There are 3 types of coverage available for life insurance over 80.
They are:
1. Simplified issue policies that require no medical exam. These are whole life policies that have level premiums.
2. Universal coverage for amounts or $25,000 and higher that require full underwriting with blood and urine in addition to a mental health screening.
3. Guaranteed issue policies available in most states.
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Today you may purchase guaranteed issue life insurance through age 80 in most states and through age 85 in some states. Remember that most carriers will return all premiums plus interest if the insured dies within the first two years of the policy. After that, the full death benefit is paid.
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This question came up in my feed again, so I'll add this: since I wrote, I bought a plot for my mom, as well as one for my husband and I at a local rural cemetery I really like. The plots were $3000 each, a lot cheaper than the ones I'd seen previously. I found it by doing research and shopping around.

Instead of going through the hassle of qualifying for life insurance, since dh and I both have health issues, I have started putting $150 per month in a dividend stock mutual fund. Hopefully, by the time we need it, it will be enough for 1 funeral/burial. I'm estimating that cost at 10-15k, and feeling pretty confident. At the very least, it will greatly offset the cost. In case anyone's curious, I chose the 5-star Morningstar rated T. Rowe Price Dividend Growth Fund.

I also have my mother's savings invested in a less aggressive fund. I'm hoping that earns enough to pay for her funeral. Instead of saving for her final expenses, I pay a nursing student to be with her 9 hours a week for a little extra fun and attention in the nursing home. It's a sacrifice, but she and my mother love each other, so I'm glad to do it. And if anyone's curious, I'm using Vanguard Balanced for her, a 60/40 stock/bond split.

I'm not saying anyone else should do what I did and I would never advise anyone to invest in securities unless you fully understand the risk, but this is what I'm doing to mitigate not having the money set aside for everyone's arrangements.

Yes, it would have been better if we'd all gotten life insurance when we were young and healthy, but we didn't. (Actually, mom got a low face value policy years ago that is now about enough to pay for her headstone.) And my plan won't pay out six figures, but it will allow someone to die and be buried without causing other financial strain (hopefully).
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Some elderly parents may get life insurance to handle final expense, such as credit card and medical bills, so that loved ones don't have to deal with these expenses.
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My diabetic relative had a hard time getting insurance even though she was only in her 30's,. The time to purchase it is when you are young enough to have no health problems, BIL bought modest policies for the family when they were only kids, as adults they have the option to buy more or leave the policies as paid up. You need to understand what you have though and keep inflation in mind, my mom has a policy from back in the 1960's that will pay out only a little more than the $1000 face value, it would have been much smarter to make additional contributions over the years to increase the payout.
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My MIL had one of those TV TYPE life insurance policies, which she paid into for 5 years, the exact amount of time nessasary to qualify for receiving the benifits which just covered her final burial expenses. Had she died just 2 weeks erlier, it would not have paid out, period. Read the fine print, but in her case, she understood and had hoped that she would reach the allotted time frame of 5 years, and she just barely made it. Otherwise, if you are beginning to think about end of life and burial plans, purchase a plot now, if you can, 3save the money in an envelope designated for these expenses. My Dad did exactly this, and had enough cash set aside for everything, including flowers, obituary and all of the many smaller yet very expensive things associated with funeral services. He didn't tell anyone about it, but we found it, going through his prepaid cemetery information. There was about 60 extra left over. One smart cookie, my Dad!
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JessieBelle- Also some policies stop at a certain age. If the person lives past the age expiration of the policy, then they're out of luck.
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All good answers. Life insurance is for the company to make money. They are not going to pay out more than they think they will take in on an account. When someone gets very old, there are usually conditions on the policy. The ones that you see advertised on TV that have no physical exam have high premiums and low pay-out and won't pay in the first two years for natural death. The advertiser says you pay just $19 a unit each month, but notice he doesn't say how big the unit is. These things are very tricky.

If I were 75+ and had no life insurance, I would take $100 and put it in the bank each month. In fact, that wouldn't be a bad idea for me at 64. If only the banks paid any interest, it would be better. Little guys have a hard time getting ahead these days.
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Minter you have violated terms of the site. This is spam.
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