Can I get life insurance on my grown son? Without his knowledge?
Posted on May 31st, 2008 in Burial Insurance
debbie2243 asked:
He is going to have open heart surgery. I know anything can happen. He has no burial policy. Is it tacky to get an insurance policy on him for this reason? I love my son dearly and he is not married.
He is going to have open heart surgery. I know anything can happen. He has no burial policy. Is it tacky to get an insurance policy on him for this reason? I love my son dearly and he is not married.
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Tags: Burial Policy, Reason
This post has 5 comments
June 3rd, 2008
You can’t get one for him, when he is an adult. Even if you tried, it’s going to be impossible or have extremely unaffordable premium due to his heart problems.
June 4th, 2008
His heart problems will prohibit this kind of insurance, and even if you could find a policy at this point, the premiums would be astronomical.
June 5th, 2008
1) He is an adult - he has to sign the papers to get insurance.
2) there are policies in which he can possibly get - such as Col.Pen - you may have seen their ads on TV. These are known as MECS - you usually pay out more then the face value of the policy, and they do not meet the 7 Guidelines for insurance under the IRS code - but he would still need to apply himself.
3) if you tried to get him insured knowing that he is going to have major surgery - that could be considered tacky, and fraud. The IRS and the Insurance companies frown on Fraud. They usually proscute for that.
4) After he has the surgery - and he has a clean bill of heath for 3 to 5 years, he maybe able to get a term policy - a whole life policy is possible to, but maybe expensive depending on his age.
5) for other parents who have children, it is a good idea to get a whole life policy, or a jumping juvenile type policy that insures that your children are insured when they reach adult age - there are many reasons that underwriters will deny adults insurance - bad heart, overwieght, diabetes. By insuring your kids before they reach 13 or so, insures that they will be able to be insured.
Banker’s, NY Life - MetLife, they all have great policies that don’t cost an arm and a leg.
6) I am a licensed health and life agent in my state
June 8th, 2008
not without him signing the policy
June 8th, 2008
Nope, you can’t get it without his knowledge. And if you’re only looking for enough to bury him, a guy that needs open heart surgery is going to pay BIG BIG BIG bucks for a policy - most likely more than the cost to bury him.
But he needs to sign consent, give access to all his medical records, and submit to various testing.
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