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Life Insurance for Parents

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At Intramark Insurance, home of LifeInsure.com, our goal is to provide you with accurate instant life insurance quotes for highly rated insurance companies.

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We work hard to get you the best policy at the best price for your needs. We'll work with you to help you make the best decision for yourself and your loved ones.

Life Insurance for Parents

Whether you're a new parent looking to establish a safety net for your precious new family member, a parent concerned about leaving something behind for your family, or a son or daughter looking to help your parents shop for a policy, there's one thing you should know - it's never a bad time to purchase life insurance. Regardless of your current situation, it is almost always possible to find an affordable policy that will give you and your family the security and peace of mind that you need.

A Few Things to Consider:

While age is always a factor in determining your eligibility for life insurance, there are many other factors that can make a big difference in both your ability to qualify, and how much it will cost you.

The following are some potential risk factors, other than age, that can affect your ability to find affordable life insurance:

  • Using tobacco or nicotine products
  • Heavy drinking
  • Weight/obesity
  • Diabetes
  • Heart conditions
  • Certain cancers

What is The Best Type of Life Insurance for Parents?

Final Expense life insurance policy is often the preferred option for elderly parents looking to leave their family with enough money to cover burial and other end of life expenses. However, depending on your health and age, you also might want to consider a Guaranteed Universal Life policy. Depending on your eligibility, it is possible to find guaranteed universal life insurance policies with limits as low as $25,000.

For young-to-middle aged parents, you probably want to look into your standard term life insurance policy. Depending on your age, health and other risk factors, you should be able to find a flexible plan with a reasonable premium to suit your lifestyle and ensure that valuable safety net for your growing family.

To really know what kind of coverage will suit you and your family best, you need to shop around and compare life insurance premiums from the top life insurance companies. Remember, no two companies are the same, so if one of them turns you down, that doesn't necessarily mean it's the end of the road.

How much coverage do you need?

Each family has its own set of unique financial circumstances, so it's important to have a clear idea of how much money they will need in order to cover key expenses.

For instance, if you are simply looking for insurance to cover funeral and memorial expenses, you should know that the average cost of a funeral in the US is anywhere from $7,000 to $10,000.

However, if you are looking to leave behind some tax-free money to pay off the mortgage and outstanding debts, or if you would like to leave them some additional money as an added safety net, you'll need more coverage. If you're a new parent with very young children, you'll want to consider possible future expenses, like college, weddings, etc.

Since this sum depends on so many variable personal circumstances, it's best to talk it over with your family first. Then, once you have an idea in mind, Lifeinsure.com can help you find the right coverage to suit your family's specific needs. Already done your research? Get started with a quote now by filling out the form above.

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