It may be a bit off your and your parents' radar screen right now but fairly soon they should evaluate whether long term care insurance should be a part of their retirement plan. As a single father and at age 55, I began paying premiums on a long term care insurance policy with GE Financial so that my son would not be placed in the position of having to care for me in my old age should the need for long term care arise. I began my LTC policy in my mid-50's because the premiums were affordable ($1200/yr) and I knew my health was then good enough to make me insurable. Both my mother and father are now in their early 80's and they wish they had acquired a LTC policy when they were younger. In their 80's their health precludes them getting such a policy and they couldn't afford the premiums in any case. A husband and wife can get a combined LTC policy that offers advantages that are not available in the single person policy that I have. Such a policy would help your mother care for your father should he need long term care which is probably the most likely senerio. It also offers protection for your father or the children when and if she needs long term care.Tom
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