Why to Buy Life Insurance for Your Parents?
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BeamaLife compares top 100 US life insurance company to find best, cheap and most affordable term, whole and universal life insurance quotes and rates. http://www.beamalife.com

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Why to Buy Life Insurance for Your Parents?

www.BeamaLife.com | 1-866-972-3262


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Why to Buy Life Insurance for Your Parents?

  • Why to Buy Life Insurance for Your Parents?

  • There comes a time in every parent-child relationship where the roles reverse, where the parent becomes the child and the child becomes the parent. And when that change takes place, part of your responsibility is to make sure that your parents have a sound plan in place for the inevitable day when they are gone.

www.BeamaLife.com | 1-866-972-3262


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Why to Buy Life Insurance for Your Parents?

  • Buying life insurance for your parents is not an easy thing to do, but it's important and necessary for so many people. Some children buy life insurance on their parents in order to make sure that there is enough money to pay for burial or final expenses when their parents die. Others buy life insurance on their parents in order to create or preserve an estate that can be passed along to surviving children.

www.BeamaLife.com | 1-866-972-3262


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Why to Buy Life Insurance for Your Parents?

  • Regardless of your reasons for needing to buy life insurance for your parents, one thing that most insurance companies will look require before issuing a policy is called "insurable interest." In the most basic sense, insurable interest is proof that, should your parents die, you would suffer some kind of financial loss. This requirement protects insurance companies from issuing policies that are taken out by children who simply think that their parents may not have long to live and create a fortune by purchasing big life insurance on them.

www.BeamaLife.com | 1-866-972-3262


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Why to Buy Life Insurance for Your Parents?

  • Once it has been established that you do in fact have an insurable interest, you need to choose the type and amount of insurance coverage to purchase. Children buying life insurance for their parents most often choose guaranteed universal life as opposed to term life insurance or whole life insurance. Because the guaranteed universal life provides guaranteed death benefits for whole life and guaranteed premium with lower cost.

www.BeamaLife.com | 1-866-972-3262


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Why to Buy Life Insurance for Your Parents?

  • It's important to note, however, that term life or guaranteed universal life insurance policies do not build up any or substantial cash value the way that whole life policies do. So if part of your goal is to create some equity in the policy, or if your parents are still quite young, a whole life policy may actually be the more prudent selection. Please call BeamaLife Specialist at (877) 972-3262 to make this decision easy for you.

www.BeamaLife.com | 1-866-972-3262


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Why to Buy Life Insurance for Your Parents?

  • Another consideration should be your parents' current health status. It can be difficult, even at a younger age, to purchase life insurance if you have serious medical conditions. If that's the case with your parents, you should look at "guaranteed issue" policies. While more expensive than alternative policies, guaranteed issue policies require no medical examination, ask no medical questions, and are available to anyone who wishes to apply.

www.BeamaLife.com | 1-866-972-3262


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Why to Buy Life Insurance for Your Parents?

  • Another option is the "simplified issue" or "quick issue" life insurance policy. These policies do not require medical examinations, but do ask some questions about an applicant's health and medical history. They are less expensive than the guaranteed issue policies, but still more expensive than their fully-underwritten counterparts.

www.BeamaLife.com | 1-866-972-3262


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Why to Buy Life Insurance for Your Parents?

  • No matter what your reasons might be for thinking about life insurance for your parents, you do have options, and a BeamaLife Life Insurance Research Specialist will be happy to discuss your needs with you. Call (877) 972-3262 or request life insurance quotesnow!

www.BeamaLife.com | 1-866-972-3262


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Why to Buy Life Insurance for Your Parents?

www.BeamaLife.com | 1-866-972-3262


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