Hello!
I was wondering if i'm able to buy a policy for my aunt or parents, currently they have a policy which is being paid monthly by my sister. Can there be multiple policy for one person? if so how does the life insurance handle the payout or funeral costs at the end. Just like to know whether a shared policy with my sister or buying it separtely is better. Any life policy company recommendations?

thanks

Hello, and thank you for your inquiry.

Insurance carriers will issue policies if other policies are already in force, as long as the total amount of coverage can be justified financially. Their main concern is in not over-insuring someone.

When a claim needs to be filed, the claims department of each carrier must be contacted.

To answer your last question with regards to which company to use: a number of carriers specialize in underwriting older ages. Once I receive some additional quote information, I will be able to recommend a carrier.

Regards,

Steve

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As an independent life insurance broker, I will gladly answer your consumer questions about life insurance. Please contact me by email (skobrin@stevenkobrin.com) or by toll-free telephone (1-866-633-1818). Thank you.