Question about life insurance for a friend [View all]

[duncang]

Here's the deal. I have known her since middle school. My wife has known here since we got married 40 + years ago. She is 70 years old and in bad health. Had cancer and it seems to be in remission. Massive bone loss, drinks, smoker since she was young, uses a walker and wheel chair. She has a house which is upside down on the loan. Doesn't have any close family she can rely on. Closest is a sister in law. Her husband died ~10 years back. On SS, medicare, medicaid.

We have been helping her out since her husband died. Bringing her to doctor appointments, doing repairs on her house, mowing the lawn, and helping her on her bills. She doesn't have a life insurance to pay off the loan and the house is in very bad shape, cracked slab, etc. It will be just going back to the bank. Before her husband died of cancer they sold off everything they could to pay bills. And she turned into a hoarder/cat lady. I think she has around 20 cats now. My wife has power of attorney and executor. She wants to be buried. It's hard to say how long she will live. We have been expecting something for the last ~5 years.

We are trying to figure out what to do. We have looked some at buying her one of the funeral packages or paying for life insurance. To help out her final expenses. Any suggestions or experiences on something like this? We are not going to just let her go. So don't consider that as a something we would consider.