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 At the very least, having your inheritance planning for your BTC should act as its own type of insurance. 

Not sure if a monthly buy-in model would actually make sense in BTC terms. 
 Yes, that's very true. It's easier in a way since, well, if you're not an idiot, the state doesn't get involved. 

Why would it not? If you have enough scale of adoption, I think it could work, at least as long as not all your policy holders die off at once.