Now, the title of this may not sound too friendly – who really wants someone to end up with bad health? The truth of the matter is that nearly three out of every four of us will need some long term care in our lifetimes because of bad health.
Now, for those of you who have parents that are retired or close to retirement, you may have a bleak future ahead of you. If your parents were to become unhealthy, did they put the planning and finances in place to ensure that their care is paid for? What about if their money runs out – will you be the one paying the bills?
These are all good questions to be asking your parents. Now, you can also take steps to ensure that your interests and theirs are take care of, should they need some extended health care.
If you were to purchase a long term care insurance policy on your parents, not only would it give your parents the care they need (when and if the do need it) and ensure that your are not ruined financially footing their medical bills. So bet against your parents health – that way no one loses.