{"id":6584,"date":"2024-10-25T06:19:07","date_gmt":"2024-10-25T06:19:07","guid":{"rendered":"https:\/\/finderica.com\/should-i-buy-life-insurance-on-my-deadbeat-brother\/"},"modified":"2024-10-25T06:19:07","modified_gmt":"2024-10-25T06:19:07","slug":"should-i-buy-life-insurance-on-my-deadbeat-brother","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=6584","title":{"rendered":"Should I Buy Life Insurance on My Deadbeat Brother?"},"content":{"rendered":"\n
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\"ScoreCard<\/p>\n

Dear Penny,<\/span><\/p>\n

My younger brother is very irresponsible. He has a job with benefits, and he lives only for today. I believe his parasite girlfriend is his beneficiary for the life insurance from his job.\u00a0<\/span><\/i><\/p>\n

Looking ahead, I\u2019m thinking about purchasing a life insurance policy and disability insurance on him because I don\u2019t want to be responsible for his medical or final expenses. I would list myself, then my daughter, as the beneficiaries. What do you think?<\/span><\/i><\/p>\n

\u2014 K.<\/span><\/p>\n<\/div>\n

Dear K.,<\/p>\n

It doesn\u2019t matter what I think here. What matters is what your brother thinks and whether he\u2019s OK with your plan.<\/p>\n

First things first, though: You typically can\u2019t purchase disability insurance on behalf of someone else. If you wanted to buy a disability policy for your brother, he\u2019d have to apply for the policy, and he would be the beneficiary.<\/p>\n

Perhaps you could offer to pay the premiums if your brother buys disability coverage. Since he has a job with benefits, it\u2019s also possible that he has disability coverage through his employer.<\/p>\n

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