Life Insurance For My Mother - Should I Buy Life Insurance for My Mother? If you have a family member who has recently passed away, then getting life insurance for my mother might be a good idea. Why? You see, your grandmother was an individual before she was married and as such, had her own life insurance policy. Your grandmother was old enough to purchase a policy and it would have given her good financial protection should anything happen to her. So if you are in this situation right now, how do you go about getting life insurance for your grandmother? Well, first of all, since your grandmother was very young when she got married, her medical exam was not as stringent as it is today. Yes, today there are many different medical exams required before a person can get life insurance coverage. In the past, however, if you had a high blood pressure, smoked or had a serious medical condition, then the medical exam requirements simply did not exist. Nowadays, an elderly mother or grandmother may be denied coverage, simply because of these things. Of course, with the medical technology available today, medical conditions no longer automatically disqualify someone from getting life insurance coverage. If you are in this situation right now, then think about purchasing life insurance for your grandmother. First off, think about her age. Did you know that health issues increase the risk of death for the elderly? Yes, this is true. Thus, if your grandmother is very old or very young, then the health issues she has will play a much larger role in her death than if she were younger. If this is something you should consider, then you will want to add her onto your family plan so that her health issues will also be considered. Another reason that buying life insurance for my mother-in-law would make sense is if your wife is still working and earning money as well. The problem with purchasing life insurance for your wife is that you have to remember to add her into your family plan. Otherwise, she will be paying for the life insurance premiums on her own. If she is still employed, then it makes more sense to purchase life insurance for yourself as well. This way, both of you will be covered. Just be sure that you purchase enough coverage so that should her health problems require hospitalization, then you will be financially protected as well. If your spouse has a pre-existing medical condition, then there is another option. You can consider purchasing life insurance for your spouse along with you. If you do purchase life insurance for your spouse, then just remember that you must purchase at least 50% more than the amount that you currently pay for your life insurance. This is due to the fact that your spouse's pre-existing medical bills will increase the amount of money that you are currently paying in premiums. Remember, it is very important to purchase life insurance for your spouse as well as for yourself, in order to ensure financial protection for your family in the case of your death. My mother-in-law was recently married and despite having no prior history of heart problems, passed away from a massive coronary. Although the underlying cause of her death was not stated in the obituary, it was obvious to all that she was suffering from advanced heart problems. Upon learning of her death, I immediately purchased a term life insurance policy for myself and my family. Prior to purchasing is a mazda 3 a sports car , I talked with a term life insurance agent who told me all the benefits that I would receive should my mother-in-law pass away. His advice made all the difference in the world when it came down to purchasing life insurance for my mother-in-law. In order to qualify for the full amount of coverage (if there is any), my mother-in-law and I had to list all of our personal assets, including the contents of our home, as insurable interests. We did not include any of her personal items because they would have been included in the total amount of coverage. Our agent informed us that we were fully covered if she passed away due to natural causes. Natural causes were defined as a condition that is expected to last a minimum of one year. This means that we were insured during the entire period that my mother was alive. If you are considering purchasing life insurance for your family or yourself, I strongly urge you to review your options. Term life insurance can be a great way to ensure financial security for loved ones, but it is rarely the best choice for someone that passes away unexpectedly. If you are set on having your family covered, it may be in your best interest to purchase a permanent insurance policy. You can get much more for your money by choosing to buy a permanent life insurance policy. The policy will be a lot more affordable, and the peace of mind will be there should something happen to you or a member of your family.
