Insurance on Surrogate Mom

[Guest - 73894]

Good Afternoon fellow forum members. I currently am working on a case to get a surrogate Mom coverage, but I found it to be very difficult to insure, specially since the parents of the child only want a 1 year term policy.

I was thinking about doing the Policy with her as the insured and putting the Dad of the baby as the owner and beneficiary, but I was told by one insurance company that there has to be an insurable need (which I think having a baby should be enough as a insurable interest, but I also understand babies are considered to be able to be covered when they pass the 15 day mark after birth).

Any help will be appreciated.

Thanks!

 

[Tkruger]

Should I try to get life insurance while pregnant or wait? - BabyCenter

 

[Guest - 73894]

Thanks, but the pregnant woman isn't the wife. Husband and wife already have policies with me, this is for the surrogate mom who they're gonna have their child with.

 

[Tkruger]

I'm sorry I can't help.


I did however search the web and it seems that life coverage is available. But the question is why would the to be parents want to have the life of the surrogate paid to them if the preg results in the death of the mother carrying?

I don't see an insurable interest here.

 

[Guest - 73894]

They were thinking that a 1 year Policy could be done, but I find it very unlikely.

 

[STIBROKER]

They were thinking that a 1 year Policy could be done, but I find it very unlikely.

write a 20 year on them even tough the adopting parents are paying for it but you do have to put the surg. husband as the benie,,,,,, and tell them they can keep it after a year if they pay for it..or canceling it...its up to them...thats what I did on the one that I did.........

 

[agentinsouth]

write a 20 year on them even tough the adopting parents are paying for it but you do have to put the surg. husband as the benie,,,,,, and tell them they can keep it after a year if they pay for it..or canceling it...its up to them...thats what I did on the one that I did.........

Get the entire one year target premium up front so you don't get a charge back.

 

[Tahoe Ray]

Get the entire one year target premium up front so you don't get a charge back.

Why would the agent get charge back if they kept it for a year, regardless of the mode?

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Good Afternoon fellow forum members. I currently am working on a case to get a surrogate Mom coverage, but I found it to be very difficult to insure, specially since the parents of the child only want a 1 year term policy.

I was thinking about doing the Policy with her as the insured and putting the Dad of the baby as the owner and beneficiary, but I was told by one insurance company that there has to be an insurable need (which I think having a baby should be enough as a insurable interest, but I also understand babies are considered to be able to be covered when they pass the 15 day mark after birth).

Any help will be appreciated.

Thanks!

Did they pay the surrogate? Maybe you can make a case for insurable interest there...

Several carriers offer ART...are you looking in that direction?

You can always change the beneficiary after policy issue as well.

 

[agentinsouth]

Why would the agent get charge back if they kept it for a year, regardless of the mode? ---------- Did they pay the surrogate? Maybe you can make a case for insurable interest there... Several carriers offer ART...are you looking in that direction? You can always change the beneficiary after policy issue as well.

To make sure they keep it for a year and don't cancel it immediately after the birth..... $100 says that is what they are thinking.

 

[Tahoe Ray]

To make sure they keep it for a year and don't cancel it immediately after the birth..... $100 says that is what they are thinking.

I guess I meant that if you're as earned, you should be fine. Also, you're not getting coverage on someone really close to birth anyway so I would figure that you're good for at least 6 months of comp no matter what.

And I wouldn't take your bet because you're probably right.