With long-term care insurance (LTCi) executives reaffirming growth projections for the need for care, it’s worth asking: Who is paying for all this care?

No one is suggesting financial advisors get into the long-term care health advisory business, but as so many retirees cite health care costs as their major factor in budgeting for retirement, advisors may find themselves turning into long-term care advisors by default.

How are families preparing for a chronic or long-term illness? Have families even thought about what to do when parents start to falter physically and mentally? Who takes charge, mom or dad? Are children nearby? Are their homes equipped to receive elderly parents?

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