EOS Alzheimer's and Dementia, 68 y/o Male

[mandyharris]

I was thinking about getting a life insurance policy on my father, his medical diagnosis is in the title above. I would assume these illnesses would not allow a normal life insurance policy to be obtained. What are my other options? I can afford about $16,000 per year toward payments.

 

[ida25]

@mandyharris You should take out multiple guaranteed issue policies with multiple carriers. If you're located in TX I can assist. I'm contracted with 15. With his conditions, guaranteed issue is the only option.

 

[spockfan]

@mandyharris Well Guaranteed issue will not get you much, and if he passes away within the 1st 2 years you only get a refund.

There is actually a decent chance he could get life insurance with the price you are willing to pay.

You don't want to apply with one particular company, you want to do an informal application and shop around between all of them. Is there an amount of life insurance you would wish to achieve for that premium?

 

[mandyharris]

@spockfan $1M - $2M would be ideal.

 

[spockfan]

@mandyharris It all depends on the details, could be possible, all depends.

 

[resjudicata]

@mandyharris Have you looked at whole life insurance for him? Gerber does guaranteed approval but has a two year graded period.

 

[mandyharris]

@resjudicata On a guaranteed policy or a standard life insurance policy?