What are the best final expense life insurance options for parents? My dad, a disabled vet recently homeless in another state, is in poor health with conditions like bladder cancer, Adult Epilepsy, and suspected prostate cancer. He has no means to cover his end-of-life expenses, and it falls on me as my sister can’t assist due to disability. Can I purchase a policy for him and cover the costs myself? Would he need to sign any paperwork? What documents would I need from him to secure this policy, and what’s a typical coverage amount for funeral services?
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Wow, um, my dad hasn’t really been present in my life since he left when I was 9 in 1989. He visited me once, but he left because of his alcoholism and abusive behavior towards my mom, which she couldn’t tolerate anymore. I saw him briefly in 1994 when he came to visit, but he had a heated argument with my 12-year-old sister and left shortly after. He didn’t reach out until I was 20, and when I drove to see him at 26, he didn’t express love back. I invited him to my wedding, but he apologized for not coming just a week before, saying he was in jail. There’s more to this story, is it necessary to continue? Yes, he’s made many mistakes and hasn’t been a consistent part of my life. Despite this, I do love him and have forgiven him, but your assumptions couldn’t be more off base.
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Hi,Top final expense life insurance options for parents include policies from Mutual of Omaha, AARP, and Gerber Life. These providers offer affordable plans with flexible coverage tailored to seniors’ needs.
As previously noted, contact the VA or USAA. Due to his health issues and homelessness, no other life insurance companies will provide coverage. Use this as a lesson for yourself: purchase life insurance while you’re young and healthy to safeguard your family from any and all financial losses.
If you locate something through the VA, your father will most likely have to sign off on the paperwork because he is the insured.
Be wary of guaranteed issue products. Although no medical underwriting is required, these policies usually only pay out after a few years of coverage. Typically 2-4 years, depending on the firm and product. Make sure to read the fine print on these policies. This is how they leverage foregoing medicine.