Do you currently hold an insurance policy on Dad and if so what type?
If you do not have a policy on Dad then it is very unlikely you would be able to get one now. Or if you did find a term policy that would cover him the rates would be very high.
I have no idea of the implications regarding Medicaid.
I have a policy on someone so I can bury the person when the time comes. I am the owner, pay the costs and am the beneficiary on that person. It is a term life insurance policy and required no physical. I also work with Medicaid eligibility. This type of arrangement would have no effect on that person's eligibility if Medicaid were need.
If you do not have a policy on Dad then it is very unlikely you would be able to get one now. Or if you did find a term policy that would cover him the rates would be very high.
I have no idea of the implications regarding Medicaid.