Yes, you can typically buy life insurance for your grandparents, but there are some considerations to keep in mind. Life insurance for grandparents can provide financial support for their final expenses, help cover outstanding debts, or leave a legacy for the family. Here are some key points to consider:

1. Consent: In most cases, you will need your grandparents' consent to purchase a life insurance policy on their behalf. They will likely need to participate in the application process, which m...

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In most cases, you cannot directly buy life insurance for your ex-husband without his consent. Life insurance typically requires the insured person's consent and participation in the application process. As an ex-spouse, you generally don't have an insurable interest in your former spouse's life, which is a key requirement for purchasing life insurance on someone else's life.

However, if you have children together and there are court-ordered financial responsibilities or child support involved...

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Life insurance policies with no medical exam and no health questions asked are commonly referred to as "guaranteed issue" or "simplified issue" life insurance. Here's an explanation of how these policies work and who may benefit from them:

1. Application process: When applying for guaranteed issue life insurance, you don't need to undergo a medical exam or answer health-related questions. Instead, you provide basic personal information such as age, gender, and contact details. The application i...

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Term life insurance is a type of life insurance policy that provides you with temporary coverage lasting for a set number of years.

Here are some of the most common features and benefits of a term life insurance policy:

1. You may be able to choose a policy term lasting for a duration of 10, 15, 20, 25 or 30 years.

2. Level term life provides you with a coverage amount that never decreases during the life of your coverage term.

3. Level term life provides you with premiums that never increase dur...

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Term life is temporary life insurance and provides coverage up to 30 years.

If the insured dies during the policy term, the death benefit is paid out to the beneficiary of the policy, subject to the terms, conditions and exclusions in the policy.

If you need life insurance protection lasting for a duration of thirty years or less, then term life insurance may be right for you.

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Is there life insurance available for people age 70 and over?

Yes, in fact, people in their seventies may be able to purchase term life, permanent life, or guaranteed issue life insurance policies depending on their age, health and the requirements for approval of the insurers.

Even if you have been turned down for life insurance from other insurance carriers, you may still be able to get insured for life insurance in your seventies.

Learn more about life insurance for 70 plus.

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If you're shopping for life insurance you may be wondering about the differences between accidental death insurance and term life insurance.

Accidental death life insurance plans provide a death benefit if the insured person dies as a result of an accident without a specific timeframe of the accident.

Whereas, term life insurance pays out a death benefit if the insured person dies during the term (duration) of the policy, and if the death occurs as a result of natural causes, illness or an acci...

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Life insurance is a contract between an insurance company and the owner of the life insurance policy.

The insurance company agrees to pay out a death benefit on the policy when the insured person dies while the insurance is In Force.

In return, the owner of the policy agrees to pay premiums on a regular basis for the life insurance coverage.

The death benefit is paid to the beneficiary which is chosen by the owner of the policy.

If you have anyone who relies on you for financial support you may h...

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How does the coronavirus affect life insurance?

If you already own a life insurance policy, and there is No Exclusion on your policy which excludes death resulting from the Coronavirus, then it would not affect your coverage.

However, if you have, or had, the coronavirus, you may find it much more difficult to get insured for life insurance, than if you never had the virus.

Learn more about life insurance and coronavirus.

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Yes, even if you are a senior with major health issues, you may still be able to purchase life insurance.

Although many life insurance plans may decline a senior with pre-existing health issues, there are guaranteed issue life insurance plans offered to people age 45 to 85.

With guaranteed approval you can't be denied coverage due to any pre-existing health problems.

And, you won't have to take any medical exam, or answer any questions about your health.

However, these guaranteed issue life insur...

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It really depends on you - your age, health, and if you qualify for coverage. And, it depends on the insurance company you apply to for life insurance.

Some insurers offer the option to apply online and get approval right away for life insurance, and others don't.

There are life insurance companies that allow you to apply online and find out within minutes of you qualify to purchase a life insurance policy.

For example, Haven Life offers an application process for life insurance that is complete...

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Can I buy a life insurance policy on my grandfather?

Yes, adult grandchildren may purchase life insurance on their grandparents.

In fact, many parents of elderly people, and even adult grandchildren purchase life insurance on their grandparents.

The fact is, many seniors may not have enough money saved to cover the cost of their final expenses, including a burial, funeral, casket, memorial service, etc.

And, with the average cost of final expenses around $8,000 - it can be a costly undertaking to...
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If you're shopping for a life insurance plan you may have heard about term insurance and whole life insurance, and wondered what is the difference?

Well, there are several important differences about the two basic types of life insurance: Term and Whole Life:

• Price
  
• Duration of Coverage
  
• Cash Value
  

To start, term life costs a lot less than whole life insurance because it is temporary, lasting for 30 years or less. Usually, whole life may cost up to 2-3 times more than the same amount of term life in...
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By using medical tests are insurers trying to eliminate any applicants that are likely to develop a serious health condition in the future?

Medical tests provide accurate, current information about an applicant’s health that enable insurers to charge premiums that reflect the level of risk an applicant represents.

Because some health conditions are easily managed through proper medication, therapy or lifestyle changes, medical information makes it possible for insurers to cover applicants wi...
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If you have an elderly grandmother who is on a fixed monthly income you may be wondering if she has enough money saved to help pay for her final expenses. And, you may also ask yourself if you can buy life insurance for your grandma?

The answer is "YES", you can.

Many adult grandchildren purchase life insurance plans for their grandparents to make sure there is no financial stress in paying for their grandmother or grandfather’s funeral and burial expenses.

Did you know the average cost of a f...

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Term life insurance is a type of life insurance that provides temporary coverage for a specific number of years, usually for a period up to 30 years.

With term insurance, you select a term of coverage from 10, 15, 20 or 30 years.

If you pass away during your policy term, your beneficiary receives a payout of the death benefit from your term life policy.

If you outlive the term of your policy, there is no payout, and the coverage ends.

Term insurance is the lowest priced type of life insurance cov...
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Yes, you can buy life insurance on her husband.

If you are married, you have an insurable interest (which is required) in your husband. That means, you stand to lose out financially if your husband were to die.

Either you rely on him for financial support or you would suffer financially if he were to pass away.

You may even be able to purchase life insurance direct online for your husband with no physical exam required.

Some plans even allow you to start the life insurance coverage immediately, ...
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What are the pros and cons of a term life insurance policy?

There are several advantages to term life insurance coverage, including:

Low Cost - Term life offers the highest amount of life insurance protection for your money.

Flexibility - Choose form 10, 15, 20 or 30 years of life insurance protection.

Easy-to-Understand - You have protection for the duration of your policy term. Your premiums and coverage remain level for the term of your policy. 

There are also a couple drawbacks of term life in...
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If I own a life insurance policy and die from cancer, will me beneficiary receive a payout on my life insurance death benefit?

Yes, life insurance policies usually cover natural death and accidental death, but not intentional acts.

If you answered all questions truthfully on the application for life insurance, the insurer should pay out a claim on your policy subject to any exclusions in your policy.

However, if you had cancer when you applied for life insurance, and you did not advise the insur...
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Will my life insurance policy pay out a death benefit if I die as a result of an accident?

Yes, standard life insurance policies cover accidental death and natural causes.

However, intentional acts are usually excluded from coverage.

So, for instance, suicide is usually excluded if it occurs within the first two years you are insured (one year in some states).

But, there can be exclusions for certain high risk activities or occupations.

That's why it is a good idea to review all exclusions with yo...
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Unlike traditional life insurance that provides a death benefit only in the event of the death of the life insurance policyholder, accidental death and dismemberment insurance provides additional coverage in the event the policyholder becomes permanently injured in a number of specific ways.

This type of policy traditionally pays a certain benefit for the loss of limbs, with a specific dollar figure assigned to each type of lost limb.

Many companies provide this type of cover...

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Funeral insurance and life insurance are different in a few ways.

Life insurance may offer up to $1,000,000 of protection or more depending on your age and health.

Whereas, funeral insurance usually offers up to $25,000 of coverage.

Life insurance may or may not require you to take a health exam, depending on your age and the amount of coverage you need.

Whereas, a funeral insurance policy may provide coverage with no health exam and no health questions asked.

Life insurance may decline to offer y...
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Is it possible to buy a life insurance policy without having to answer any questions about my health?

Yes, there are no medical question life insurance plans available.

These plans usually have:

1. Limited death benefits the first two years you are insured.

2. Maximum amount of life insurance available up to $25,000.

3. No health exam required.

4. Guaranteed acceptance for people age 45 to 85.

5. No health questions asked - you cannot be turned down due to your health.

Here's how you can learn more a...
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Can I get life insurance eon my grandma?

If you are an adult, you may be able to purchase life insurance eon your grandparent.

Usually, a life insurance company requires a person to have an insurable interest in the other person they would like to insure for life insurance.

Insurable interest means you rely on that person for some sort of financial assistance, or that you would suffer a financial loss if the person were to die.

So, if you have a grandparent that helps you out financially, or that...
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What is the most affordable life insurance for people age 50 and over?

The most affordable life insurance for people ages 50 and over will depend on the type of life insurance you need - and what your goal is for your life insurance plan.

If you need short term life insurance for a period of 30 years or less, then a term life insurance policy may offer the most affordable prices.

If you need lifetime life insurance protection, then a whole life insurance policy (which costs more) will be the typ...
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What are the advantages and disadvantages of a whole life insurance policy?

Since whole life insurance is coverage that provides guaranteed protection your entire lifetime, it will cost more than a term life insurance policy which provides coverage for up to 30 years.

The advantages of whole life insurance include:

1. Guaranteed lifetime protection.

2. Builds can value inside the policy.

3. You may take a loan form the cash value.


The disadvantages of whole life insurance include:

1. It may cost 2 t...
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Life insurance is cheaper to buy when you are at a younger age if your health is good or you have no other risk.

Some things that can increase a younger person's life insurance rates do not show up so much in older persons.

For example, DUI's, suspended drivers licenses, some mental disorders, suicide attempts, and type 1 diabetes, to name a few. 

While under the age of adulthood, some of these conditions can make it impossible for a child or teenager to get life insurance, alt...

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How can I get lower rates on term life insurance - are there any discounts available?

Yes, there are some discounts that may be available for term life insurance.

For instance, some insurers offer a multiple policies discount if you have more than one type of insurance with the insurer. 

In addition, discounts are offered for better than average health and for a good driving record.

If your lifestyle presents a better than average risk for death sooner than the average life expectancy of a person...
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Yes, you can purchase life insurance on your ex.

If you have insurable interest and your ex spouse gives you permission then you can get life insurance on your ex. 

In fact, it may be wise to include life insurance coverage requirements in your divorce settlement. This way financial obligations such as child support can be protected for the future.

If the spouse paying child support passes away, the life insurance will be paid out the the guardian of the child and the child w...

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Life insurance plays an important role in your financial and retirement planning.

Life insurance creates cash upon the death of the insured person, and can also offer tax advantaged growth inside the policy.

Your first step is to determine what you want to accomplish with your life insurance and if your need for life insurance is temporary (30 years of less), or permanent, for your entire lifetime.

If you have a family you might want your life insurance coverage to replace y...

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Yes, you may be able to buy life insurance eon your ex-husband.

If you have an "Insurable Interest" you may purchase life insurance on your ex-husband. 

That would probably mean that he is responsible for child support or alimony payments to you based on your divorce agreement. 

While buying life insurance on another person requires his cooperation that cooperation can be ordered by the court. 

You should be the life owner, payer and beneficiary of the life insurance policy. T...

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Yes, life insurance policies may cover skydiving accidents.

If you got a life insurance policy that did not explicitly exclude death related to skydiving, the life insurance policy will pay for death that was caused by a skydiving accident.

However, this is taking into account that you did not lie about your past and future skydiving intentions on your application when you applied your life insurance policy.

The life insurance company has a two year contestability period calle...

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Yes, life insurance policies may cover skiing.

If you are a recreational skier, there will not be any difference in your price than if you did not ski at all. Your life insurance policy should pay out a death benefit whether your death occurred by illness or accident, even if it was a skiing accident that was the cause of your death. 

Your rate for your life insurance coverage might be higher, or the skiing might be excluded as a cause of death, if you are a professional ski...

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A joint life insurance policy provides life insurance protection for two or more lives.

When one of the insured persons dies, the life insurance policy pays the death benefit and the life insurance coverage ends. It no longer covers the other insured person under the life insurance policy. 

A joint and last survivor life insurance policy does not pay out a death benefit when the first person dies, but pays out the death benefit upon the death of the last person to die who is...

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When you apply for life insurance you answer some questions about your health and personal risk factor, such as, if you smoke, your height to weight ratio, and your driving record, among other things.

These risk factors impact your acceptance and rate for life insurance.

The insurance company wants to determine what kind of risk you present for life insurance - they do this by reviewing your risk factors and how these will impact your longevity - how long you are expected to live.

If you have a ...
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A wife can and often does take out life insurance coverage on her husband. And a husband often takes out life insurance coverage on his wife. Parents also purchase life insurance on their children.

You can buy life insurance on your spouse because an insurable interest exists between spouses, which is a requirement to buy life insurance on another person. When you apply for life insurance on your husband, you may have to answer some health questions about his health.

Here's how...

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Life insurance differs from Accidental death insurance in that Life Insurance pays for death of the insured person by any reason (except suicide in the first two years in most states), whereas Accidental death insurance only pays out a death benefit for death of the insured resulting from accidental reasons.

AD&D stands for Accidental Death and Dismemberment. If the death of the insured person is due to falling down stairs, a car accident, or any other type of accident, the ...

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I have a life insurance policy for a non-smokers rate, and I like a good cigar every once in a while (I'm not a frequent everyday smoker). Should I be worried about having them come in and randomly test me for tobacco use?

No, there's nothing random about it. They test 100% of the time when you apply for life insurance.

However, Life insurance companies do not do "random" testing on policyholders. If you are approved for the non-smoker rate for life insurance, and then you ...

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A DUI may affect a person's rate for life insurance, or the ability to qualify for life insurance policies, for up to 3 to 10 years.

The amount of time depends on the life insurance policy and the insurance company guidelines for DUI's.

Some No Exam life insurance policies will delay until two years after the DUI occurs. Other no exam life insurance plans and carriers may not count the DUI unless drug or alcohol treatment was needed as a result of the DUI. However, some life ...

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Yes, you may be able to get life insurance after having a heart attack.

Whether or not you qualify for life insurance may depend on several factors, including but not limited to:

1. How long ago was your heart attack?
2. Have you made a full recovery?
3. Did you have heart surgery?
4. Are you on medication?
5. Do you have regular check-ups?
6. Your Age.
7. Your height-to-weight ratio.

Although you may or may not qualify for a regular life insurance policy, there are guaranteed issue life insurance pla...
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