Interesting Long-Term Care Trend: Boomers Are Insuring Their Parents

Financial advisors have long touted to clients the benefits of buying long-term care insurance. While the recession has possibly motivated clients to listen to these benefits more than ever, they aren’t new. What is new is who clients are buying long-term care insurance for their parents.

Keeping Mom & Dad Out of Poverty

According to a recent article at OnWallStreet.com, financial advisors are seeing middle-aged clients asking about buying long-term care insurance for their less well-off parents. Often this is to protect not only their parents’ estate, but their own future as well.

Many have just had a relative go through being in a nursing home, and they see the devastation and the stress it causes. They’re concerned their parents don’t have a lot of means, and thus want to buy insurance.

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