Looking for advice for 50 y/o father

[abigail8290]

I’m 26, my father turned 50 this year and found out he had a brain tumor last week. I need to get a life insurance policy to help cover debts and final expenses.
Who’s the best to go through without breaking the bank? Looking between 50k-200k and under $60 a month with a police that has a soon start date.

 

[famof6]

@abigail8290 *If you can find a company to write a policy, it is very likely there will be a postponement of coverage for a few years or other adverse clauses restricting coverage. Premiums will be higher as well.

Sorry you’re dealing with this.

 

[hymnsong05]

@abigail8290 Will likely be hard to get one for what you’re looking for. That said, if you want to dm me I could get someone from your state to contact you about it, because you will more than likely want a broker or an agent to handle this for you because it is a huge hassle otherwise. Best of luck!

 

[frenchyriff]

@abigail8290 Unfortunately he will not be able to secure traditional life insurance due to his health. Look for guaranteed issue policies. Small death benefits, generally expensive, and usually need to be in place for a couple years before it will pay out. Start there, and use this as a lesson for yourself if you do not have life insurance on yourself. Get it when you’re young and healthy, that’s when it’s most needed and most affordable. Do not rely solely on employee coverage. That can be changed or revoked by your employer at any time. Likely not portable if you leave for another employer too.

 

[shadowgun1104]

@abigail8290 Are you getting ins for him bcuz he doesn’t have any, at all? Most his age have coverage thru an employer, if so perhaps see if he can get a higher face value.

Just a side note, if you don’t have ins, perfect time to get it while you’re young & possibly healthy.

Hoping all work out for you and your family. Hugs to you for this difficult time in your life.

 

[abbie13]

@abigail8290 Securing a good life insurance from a reputable company will be very tough… it’s a financial instrument you get before you actually need it… because it’s meant if something like this happens… if I find anything for you I’ll add it here

 

[paklek]

@abigail8290 Lincoln Heritage will take him. Their policies have a maximum face amount of $35,000, but they’re designed for older individuals that have minor to severe medical conditions. As long as the medical professionals didn’t label this as an terminal illness and he’s not in hospice, you’ll be fine. I’m so sorry you’re going through this. Please DM for any further questions or help.

 

[raraleesane]

@abigail8290 Mutual of Omaha GI is a pretty good price. Max 25k and will be more than $60. Is the tumor cancer?You need to be realistic here if so, most likely the max coverage you’ll be able to get is 25k. Sorry about your father :/