What is the best life insurance for our older family members?

[bigmomma]

I have my own with my hubby who is in the Navy. But, as a few of you all know, I work at my CRAPPY job to pay the rent for my momma back in KC, Mo. But, I wantto get her some life insurance that I can afford. I don't want to be in a heap when she dies in the FAR future. I want to be able to get her in a nice resting area when she goes to the other world you know? Anyone can give me any leads? I seen AARP, Colonial Penn, and etc on T.V.
Anyone know if those are any good?
I need to get the stuff for her so my family won't be worried when that time comes. I am always worried about it.

[Bambi eyes]

Bigmomma,

I don't know much about this topic, but if this helps, my mother who just turned 65 just got a policy for herself through AARP and she had a career as an Insurance Agent/Financial consultant... so I'd think she'd be making that choice to use them based on her knowledge of good insurance vs. bad and most reasonable price for what you are getting.  Maybe you can look into that...

I read this article yesterday in the MAY issue of Smart Money that said just as important as Life Insurance is Long term healthcare insurance since Americans age 65 and over have a 40 percent chance of entering a nursing home ast some point during their lives and 55 percent of those age 85 and over are impaired seriously enough to require long-term care.  If it is not possible to take care of a loved one round the clock or because of diseases like Alzheimers which require a great deal of help in dealing with that most are not equiped to handle by themselves, you're looking at annual nursing home cost of well above the $75,000 mark of 2006 and assisted living of $35,000 a year in 2006.  Medicaid pays for longterm care, but only if the senior person has less than $2000 in assets... that means they can't own a home, a car, or have any money in the bank or any income from pensions etc sitting around...  Long term care is then listed as the single most catastrophic financial risk you face.  A funeral might cost $15,000-$30,000 but a long term illness could wipe you out within just a couple of years and for some just 6 months.

Also... "there's a 1 in 1,200 chance your house will burn down, a 1 in 240 chance  that you'll be in a car accident lawsuit, adn a 1 in 15 chance that you will incura a major medical expense... but there is a 1 in 4 chance you will rack up a long term care bill."

Unfortunately this type of insurance is also expensive the older you get...but protects you in the here and now better.

[bigmomma]

Thanks VERY much. I keep seeing so many different types of life Insurance. I need to get someting this Year! She may live longer than me. Who knows, but I am already covered she is not. So, I needed something for her.