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

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. 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. 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 action is to have legal representation in this matter.