Hey guys, my father is 80, if I get a policy for him using my address and NOT his, will they pay me when I file a claim?
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When you reach 80, it makes the most sense to buy a whole life policy, especially final expense insurance, to pay for your funeral, burial, and other costs. There are also a few other policy types you may want to consider along with final expense insurance, especially if you have debt from medical bills or want to leave an inheritance to any of your loved ones.
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When it comes to life insurance, the address used on the policy application needs to be accurate and reflect the insured person’s actual residence. Using your address instead of your father’s could potentially lead to complications or even denial of a claim if the insurance company discovers the discrepancy.
I would advise you to cancel the current insurance and apply for a new one but make sure to provide truthful and accurate information when applying for life insurance to avoid any issues later on.
He is required to fill out the application and respond to questions about his health. Moreover, his signature cannot be falsified. To make sure you receive billing and policy communications, I would list your address as the policy owner and his address as the insured.
Lying about his address could result in the claim being denied and revoked, particularly if it is concealed that he is a resident of a nursing home.