Can You Buy Insurance for Someone Else with a Durable Power of Attorney?

Asked almost 2 years ago - High Point, NC

I am wondering if I could buy life insurance for my parent if I had a Durable Power of Attorney?

Attorney answers (2)

  1. Cheryl K. David

    Pro

    Contributor Level 15

    8

    Lawyers agree

    Answered . The Power of Attorney would allow an agent to buy life insurance, but it's up to the insurance company to determine whether they would write such a policy or consider your parent insurable.

  2. Joseph Franklin Pippen Jr.

    Pro

    Contributor Level 20

    1

    Lawyer agrees

    Answered . The POA has stated powers which should be reviewed.
    The powers could be very restricted or very broad.
    If the powers include the power to purchase life insurance, securities etc-it would depend on the age and medical condition of your parent and if accepted by the insurance company.

    The answer given does not imply that an attorney-client relationship has been established and your best course of... more

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