life insurance question

[crazyinfl2003]

What is the name of your state? What is the name of your state? Flroida
My father does not have life insurance. Can I take a policy out on him to make sure that his final expenses are met???

 

[Bigfoot]

You can only legally take out a life insurance policy on your father with his permission. This is especially important since you probably plan to name yourself as the beneficiary. And although you say your intent is to pay his bills, the reality is that once you name yourself as beneficiary and receive the proceeds, it's up to the executor (executrix) of his estate to determine what bills exist and what resources are available to pay them.

 

[Dandy Don]

If you are concerned about having enough money to pay funeral expenses, then it is possible for you to purchase a burial insurance policy or a prepaid funeral expense on his behalf. Contact a local funeral home or insurance agent and they can advise you on this.

 

[crazyinfl2003]

life insurance

Actually my step-mom would be the beneficiary. My intent is to make sure his costs are taken care of because they are on a fixed income and I know she wouldn't be able to afford a funeral.after that if my step-mom preceded him, then the charity of their choce would benefit.