[eweissenbach]

I am not an attorney so won't offer any advice on the wills, but I retired from over 25 years in the life insurance business, so have a few thoughts there.

The AARP insurance is good permanent coverage and the price is affordable for that kind of coverage. It is underwritten by New York Life, which is the company I spent most of my career with, and is a top rated and exceptional company in that field. Having said that, I would ask why you think you need life insurance at this point in your life? Life insurance is generally best purchased when you are younger and the premiums are lower. Most life insurance purchased by older people is either business related, meant to pay potential estate taxes, or for final expenses. If you have very substantial assets (more than $2 million at the least) that you will pass along to your child, you may need to consider comprehensive estate planning with an attorney or CFP, that could include life insurance for liquidity. If you simply need liquidity to provide money for your burial, a small life insurance policy like the AARP plans are fine, but you could provide the same liquidity by putting your daughter's name on a CD, so that she could access the money immediately upon your death if that is an option in your situation. Another option would be a single premium life insurance policy that also offers a long term care benefit if you meet the requirements - a policy of this type is offered by New York Life, though not to my knowledge through AARP. You could also consider pre-paid burial plans, though I am not a big fan, and people have lost their money when funeral homes go out of business.