Can I purchase life insurance for a family member if I don't know their SSN?
Over the last six years, five of my family members have passed away. The furneral expenses have been overwhelming. Just when we ge done paying off one another one arises. Currently my dad doesn't look like he'll make it through the next six months and my mom isn't looking too great either. They are usually inflexable when talking about death saying that everything will be alright and everyone will be fine but the fact is that we have no way of protecting ourselves for this.
Can anyone help?
Serious Replies Only!
Even if you know their SS# you will still need to get them to sign agreeing to allow you to purchase insurance on them. If they are in bad health and not likely to make it "6 months" it probably won't do you any good to purchase a policy as it is not likely to pay full benefits any way. Start by contacting a local funeral home and start a funeral plan.
What you will need is a burial insurance or funeral insurance. There are companies that offers that. Also AARP has a program through NY life that has a guaranteed coverage. Google and contact individual insurance companies. You may still need SS# though. Can't you go to their house when they are out and look at their SS payment stub or something?
Answers:
No, you need their SS#, AND their permission to insure their life. You'll need their signature on the application, AND they'll have to agree to release medical information and have bloodwork done as part of the underwriting process.