Can you win life span insurance for a 96 year matured?
We recently took guardianship of my grandmother and realized that she have no life insurance. If something were to occur to her, I don't know how we would pay her bills. I can't find anything online so I was curious if anyone know.
I can write up to 95 and backdate up to 6 months. If you have guardianship of her, that doesn't speak well to her robustness, so she's likely uninsurable. You would have to buy a minimum of $100000 anyway, which is more than you suggest you are looking for.
If her bills are more than her assets at death, her estate would be settled as insolvent (happens all the time).
Catz: Notice I don't let somebody know people that sr22 would cost $20B? Telling folks that a $10k life policy costs $12k lump sum is wreckless, at best. Keep to your pasture of expertise please.
No lawful life insurance company will write a policy to a 96 year old woman.
Also I'm not sure exactly what you intended about "paying her bills" but nobody will be responsible for the bills and debts in her dub except for her. As guardian do not start putting her stuff in your name. You do paperwork it for her, but do not cosign or transfer any of her stuff into your name. If she dies the bills and debts travel away. If you cosign or transfer that stuff into your name afterwards when she dies her debts and bills become your debts and bills.
As far as funeral expenses go, you could just use any assets she have to pay for the funeral. If she has beyond doubt nothing then you guys only need to have a short time emergency fund set aside for a simple funeral for her.
OK, first of all, life insurance for a 96 year matured is going to cost more than it pays out. You're not going to get odds.
Second, you don't own to worry about bills, as debt is not inheritable.
If you still want to retribution $12,000 up front, for a $10,000 policy, go see a local, high risk duration insurance agent in your area.
Answers: If she dies, you don't need to pay her bills. Just permit them default. Her debts are not your debts. The collectors can take everything she owned, which I'm betting isn't much, but can't touch your assets cuz its not your debt. The lone bill you will have to pay is for the funeral.
If you are making payments on her debt immediately, stop. Let her declare bankruptcy.
NO one is going to insure someone that old. If they did they would charge $110 for $100 of insurance.
Buy your energy insurabce when you are young
Not that I am aware of. In Canada the cut sour is usually age 80 - 85.
Does she have a will? And does she have any assets? If the answers are yes and yes than possibly money from her estate can pay the funeral.
Good luck!