I come to lifeinsuranceboard because I’ve never even looked at life insurance for myself. I’m looking to get coverage on my dad who is 57. He’s in overall good health however his epilepsy, which is controlled is the only I guess pre existing condition? What am I looking at here? Will it be really expensive? My mom refuses to help take care of my dad in any way and I want to make sure at the end of his life he has all his wishes met. Does anyone have any recommendations for a company? Google felt really overwhelming when I looked. Thank you for your time
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He needs to participate and sign the application. You can be the policy owner (person that controls policy).
Well controlled epilepsy is absolutely insurable even at standard rates.
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You don’t need labs for this. You can choose a simplified issue non-medical life insurance application. It might cost a few dollars more each month, but with a traditional fully medically underwritten policy, there’s a risk. A medical tech would come to your dad’s home to take blood, urine, and saliva samples, and they could find a new health issue he didn’t know about, which could affect his insurability. We usually go with simplified issue products unless the customer insists on a fully underwritten policy.
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It’s great that you’re taking steps to help your parents. I’m a bit unclear about what you mean by making sure his ‘end of life’ wishes are met. Are you talking about funeral arrangements and costs, which life insurance can cover, or palliative care? If it’s the latter, you might want to consult an attorney.
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Don’t ignore this last part op.
Have medical power of attorney for end of life care can give both of you peace of mind.
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If he’s in good health, just apply for life insurance. The underwriter will review the lab test results and decide if it’s approved. Choose a company you’re comfortable with, but focus more on which one will cover him and what rating they give. If you’re concerned about the premium, this rating will affect the cost.
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He needs a long term care insurance. There many types in there so which one to use really depends on his financial situation. Talking about the expense it’s definitely cheaper than when you taking the money out your pocket for a care service and it’s cash flow and tax free. It also depends on what state you are in