February is almost over and I have yet to post this month!
As I get "more senior" I begin to pick up on the word, and watch or listen as people talk about what to do with their aging parents. It seems to be a big problem that is getting bigger, unless you are very rich. I watched a show where two sisters go to visit their dad and try to 'talk some sense into him' about going to a very nice 'retirement comunity' where he would have his own apartment, 3 squares and all the socializing he cared to do. Trouble was, he liked where he was (his own home) and he liked to go to a popular watering hole and visit with friends who were of the lifelong kind. In the end, he won out as he most graciously told his girls NO!
So I began to think.....watch out! Life insurance should be just that! If we pay money for years and years and we are still kicking at the age of, say, 70, the premiums should now convert to 'life care' insurance. If we die before that, then whomever we have chosen to be the recipient of our life polcy will receive it. If we make it past 70, (and this would be a lot of premiums, folks) we should have an option to convert to 'life care' insurance and pay for either someone to come and help us, live-in care, or retirement community payments. If we take this option there would be no one inheriting our insurance policy, but there would also be no worry or guilt, and very possibly no heavy burden on our families as they try to make decisions. And just in case we are in the throws of senility, we would make this decision early so as to 'be in our right minds' when we do so.
So what is wrong with this idea?? I can't think of a thing, can you? Opinions please!!!