Originally Posted by muc_flyer
Sure, but I guess I still have more than 40 years left to spend my miles. And I get paid all my trips anyway - so no reason for me spending a single mile in the near future. Whenever this may change, I will for sure start spending the miles

I agree: If you are selling your lifetime to somebody else (who in return pays for your travel), FF program hedging is a reasonable approach. BM DC might be a good choice.
However, your assumption that you will be able to spend your miles in 40 years is quite far-fetched. Your miles will probably have lost half of today's value in less than 5 years.