Can you get life insurance for your terminally ill parent?

• Many cancer patients can, indeed, find affordable life insurance coverage. How? The key is finding a knowledgeable broker with experience in placing tough cases.

• Yes, you can get a "graded life" policy for up to $50,000. You maybe able to get more than one such policy. This means that the company only returns premium if the insured dies before 2 years, but if they live beyond that, the full insurance benefit is paid. It does not have to be an accidental death.

Traditional life insurance is not available to people with a terminal illness. You may be able to obtain a Graded Death Benefit life insurance policy. With a Graded death benefit policy, if you die within the first few years, the life insurance company will only refund your premiums paid plus interest. With some policies, a specified percentage of the death benefit becomes available each year.