Parent with dementia. Of the 5 Assisted Daily Living (ADLs), there's one strong that remains which is ambulatory (walking). Feeding is touch and go and will soon diminish. Parent is aware enough to know they are not thinking clearly, unable to complete tasks, also aware of environment / surroundings. Understand that 4 out of 5 qualifies for skilled nursing and 2 out of 5 qualifies for memory care. We believe best option is memory care as skilled nursing facilities do not focus on patients with demential and allowing them to remain as active and independent as possible. Memory care facilities in our area accept medicaid as portion but then require private pay up to $3000 per month depending on level of care. There is a $50k term life insurance policy on the ill parent. We were considering taking over as beneficiary and paying the $2500 portion monthly memory care in return for receiving $50k as beneficiary at time of death. Is this acceptable by Medicaid? Options?