Can You Buy No Exam Life Insurance For Your Parents?

Being a good citizen involves taking care of your elder parents. After all, they raised you and help you succeed in life and all their efforts must not be forgotten. Besides love and devotion, you can also provide financial protection.

TwoSeniorCouplesIf your parents are old, you must be sure that if one of them dies, the other will be able to handle the loss and live on. The economy of a family is vital and unfortunately it can be easily crippled by the death of a member who was earning an income. Unfortunately, seniors are harder to be insured under standard policies but you can buy no exam life insurance for your parents.

This policy is ideal for senior citizens.  Depending on your goals and money, you can buy permanent or tem life protection. You will have no problem finding adequate protection if your parents are no older than 90 years. Otherwise, it is too late and even no-medical exam insurers cannot provide coverage.

You can buy this type of insurance for someone else, but you must give precise information regarding the age of that person, health status, tobacco usage and other relevant details. Some companies ask for medical information and documents, while others not and just require filling an application form.

In the last case, the company is practically gambling and it will require more money for premiums. In this way they try to compensate for all unknown factors. So, if you want better premiums, gather as much info as you can. Talk with the doctors of you parents and ask them if they can write a document describing the current health status of your parents.

Be carefully and first analyze all insurance options. We recommend you to find first some quotes and analyze the prices. In this way, you will be able to pay for the insurance of your parents and offer them a great gift.

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