Why would a 70 year old take a life insurance policy out on a 10 year old?
I work for a financial institution and see that a client pays on a $250,000 life insurance policy on a 10 year old granddaughter - the grandmother is the beneficiary which means if the daughter dies she collects $250,000. She took it out 2 years ago, so the granddaughter is now 12 and she is 72 years old. The granddaughter should be healthy otherwise wouldn't qualify to be insured so not like she has a disease she is dying from. Does this make sense?
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Why would a 70 year old take a life insurance policy out on a 10 year old?
1. Why would a 70 year old take a life insurance policy out on a 10 year old?
I work for a financial institution and see that a client pays on a $250,000 life
e insurance policy on a 10 year old granddaughter - the grandmother is the benef
iciary which means if the daughter dies she collects $250,000. She took it out 2
years ago, so the granddaughter is now 12 and she is 72 years old. The granddau
ghter should be healthy otherwise wouldn't qualify to be insured so not like she
SOLUTION
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