New Long-Term Care Trend: Boomers Insuring Their Parents

Boomers purchasing long term care insurance for their parents to protect their personal finances. Read the excerpt below. Financial-Planning.com By Stacy Schultz March 10, 2010 Many advisors have been touting the benefits of long-term care insurance to their baby boomer clients for decades. While the recent recession has arguably helped clients listen to these benefits more than ever, they certainly aren’t new. What is new, though, is who boomer clients have begun buying such insurance for — their parents. Norm Mindel, a principal at Forum Financial Management in Lombard, Ill., is increasingly seeing his 40- and 50-year-old clients asking about 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. Read the entire article: http://www.financial-planning.com/news/ltc-mindel-shelton-2666104-1.html