Life Insurance for Parents

Life Insurance for Parents

Whole Life and Term Life Insurance Polices

Are you looking for Life insurance for your parents? You have come to the right place. We can offer Term Life and Whole Life insurance. If you are a new parent(s) and you would like information about  life insurance for new parents,  please read my article: Life Insurance for new parents.

I would like to find Life Insurance for my Parents, what is the process?

We first determine overall health and we establish how much coverage they are looking for. Depending on coverage amounts we can look at small Whole Life Policies ( Final Expense is how they are often referred to.) or Term Life Policies.

Once the above is completed we will run some quotes and find the plan the best fits your or your parents’ budget.

After that we apply to the plan.

Will they have to take a Medical Exam or can we get a No Medical Exam Policy

Depends, if the face amount is small we can certainly look into a no medical exam Whole Life or Term Life Policy. A lot of this will depend on age and health condition. Depending on the underwriting process ,we can expect an application to take 2-3 weeks without an exam may be 4+ weeks if an exam is required.

My Parent(s) is/are in poor health, can we still find life insurance coverage?

Quite possible! Here are some other options, if your parent(s) are older or are in poor health we can look into the following:

1. Small Whole Life ( Final Expense Plans)  – The full face amount is not put in place until after the policy has been in place for a specific period of time. Generally this seems to be somewhere between 2-4 years.
2. Guaranteed Issue Life Insurance Plan – These are small whole life plans. Generally up to a $10K face amount.  No medical questions or exams. Read more about these plans HERE.

How do I start the process of getting a life insurance quote?

That’s easy, call me! You will NEVER have any hard sell or high pressure from me. I take the information, present the quotes and if they make sense we move forward. You can reach me on my number 512-963-5000 or fill out my Contact Request form.