My father is in rather ill health and he has suggested I might want to buy life insurance on him. Actually, it was more like I threatened to buy it when he was being an ass and refusing medical care, as a way to highlight that he was endangering his life, but now he thinks it is a great idea and has mentioned it several times. I am not sure. Yes, it is rather odd. I am thinking about it. It will be the only "inheritance" I would get, and that may be why he thinks it is a good idea. It would have to be a "guaranteed acceptance" policy - hence very pricey, I think, as he is rather sick.
Of course, I have no idea when he will pass, but an educated guess would be definitely in the next 10 years, probably He will be lucky to make it through the 2 years it takes to season most of these policies. Of course, this is all influenced by the fact he is very non-compliant with medical care, and if he were to suddenly start listening to his MD he might live 10 + years. However, that is pretty unlikely at this late stage.
With AARP, for $25k it would be $227/month, $2729/year. In 2 years it would be $5458, in 5 yrs $13,641. 10 years would be $27, 282. Is this the kind of investment/gamble you would do?