life insurance for a Father or Mother
If you are trying to find life insurance for your mother or father there are some things you 
should know. And where to get the life insurance is actually the simple part of the process.
Getting a quote for life insurance for your father or mother is the easy part (as you may have experienced). You just go online (where you already are), enter your mother and/or father's basic information and voila! Either you get an instant quote or you receive a quote by mail or e-mail. That is the easy part!
Now the harder part. Although your mother or father does not have to know that you are shopping for life insurance for them, they do need to know that you are applying for life insurance with him or she as the insured. After all, you cannot sign the application for your parent (that would be illegal). Also, although you may think that you know all of their personal and medical information correctly, even if you fill out some of the application, you should have them review the information that you entered before they sign the application. The fact is, your mother or father may not always tell you every details of their medical history. Our experience has actually been the opposite.
Once your father or mother has filled out the life insurance application and signed it, you need to make another important decision. Who should be the owner of the policy? In most cases, if you, as the child, are paying for the policy, then you should most likely be the owner. On the other hand if your mother or father is paying for the life insurance, your parent has a bigger say in that decision. If your mother or father is relatively young 60 and under, then having them as the owner should be OK. You may still want to consider a shared ownership. If your mother or father is older than 60, we recommend that your take ownership of the life insurance policy or at least share in the ownership.
Why should you have any ownership rights? The answer is actually simple. For as long as your mother or father is mentally capable then no problem. But, if at some time in the future they become unable to think for themselves, then, as the owner, they may not be able to make needed changes to the insurance policy or worse make the wrong changes without consulting anyone. Some children do have a power of attorney over their parent but we feel that full ownership or at least shared ownership is an important safety. The more you can keep things out of the legal system the better. Particular once problems arise.
Request a FREE Life Insurance Quote for a Parents
