Filial laws in many states make adult children responsible for parents unpaid medical bills, nursing homes etc. even if they signed as " responsible party." We constantly get offers from our life insurance co. that we "qualify for upping the amount." We can only afford on our limited income the life insurance we have to cover minimal buried costs. Do insurance companies want us to have bigger coverage so that God forbid our be responsible for medical debts if any?
So far in late 70s we are in decent health and able to pay all Medicare co-pays. TV inundated with ins. companies commercials depicting parents assuring their adult children that there is insurance to cover expenses after their death. My favorite one (?) " you are covered, no dr. checkups needed etc. , only $9.95 a month! Whee. They don't mention that it's $9.95 a month per $1,000 unit. So let's say I wanted $20,000. life ins. policy each for both of us, it would be approx. $400.00 per month!
Thanks for any input.