Is it possible to buy long term care insurance for someone without them knowing it?
May 18, 2010 by
Filed under long term care insurance
Parents won’t cooperate with buying insurance, but push come to shove, if they need it, me and my brothers will be the ones taking care of them.
The insurance company can answer this question. Normally you can insure someone if you have an “insurable interest.” For example, you cannot insure a complete stranger, but you can insure a relative for whom you are responsible, or might become responsible in the future. A wife can insure her husband because she depends on his income in case he dies or becomes disabled.
However, if the insurance company requires an examination or other information from the insured, it would be impossible to do it without their knowledge.
If you insure your parents, you will own the policy and you have to pay the premiums. If your parents’ lack of cooperation is based on who has to pay, simply tell them that your brother and you decided to buy policies on them because you are worried about not being to afford their care later. You can explain that you would feel better if a policy existed. If it does not cost them anything they should not care.
its depand on insurance company
u find more details on
http://www.insuranceplan4u.com
No, you can’t. You absolutely need their permission.
You need to ask them why they refuse to buy it. Offer to pay the premiums for them, if they’re worried about the money.
you can if you have an “insurable interest”, talk to your local agent they’ll be able to tell you how to go about getting it. have you ever seen or listened to dave ramsey? http://www.daveramsey.com. i listen to his show and he is adamant that anyone over the age of 60 have long-term care ins even if they are millionaires because it is so expensive. in the past year both of my grandparents have passed away and we were lucky enough to be able to keep them at home but it still cost approx. $7500 per month. luckily for us, our grandparents had planned well for that part of their lives and it wasn’t an issue. maybe if you can spell it out to your parents about how it would affect your families (yours and your brothers) to have to cover those extra costs along with regular living expenses, kids in college, etc? are you guys church members? maybe they could try talking to your parents.