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I have such a small nest egg it is ridiculous. I do own my house and I am paying on my car. I do have a life insurance policy on myself and one on my husband. Can't I keep them. We have paid on these since we first got married 34 years ago and I was counting on that taking care of me after Bill's death. He is ten years older than me and he has had Alzheimer's disease for over 6 years. He is in the middle of it and I can still care for him. I would prefer to keep him home with me, but if he becomes violent or unable to do anything for himself I will have to put him in a home. What happens to my life insurance policy on him which I was counting on to care for me in my old age? And my life insurance policy goes to him in the event of my death.

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I suggest you talk to an elder attorney regarding this. Your first visit is usually free. I'm not clear if your husband is on Medicare or would need to go on Medicaid if he goes into a nursing home. I know there are some instances that Medicare doesn't always take the life insurance policy but I'm not sure when. But an attorney would be more knowledgeable regarding these matters. Good luck!!
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Yes Bill is on Medicare, but soon after I put him in a home, he will become eligible for Medicaid. I only have $37,000 saved. I was not a very smart person when it comes to saving.
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