The loss of a parent is always tragic but can be devastating to the surviving parent. Many families fail to plan for these eventualities and tragically find gaps in their retirement plans. A Financial Review is strongly recommended.
It is important to consider insurance that provides for physical needs of your parents in the event of a long-term debilitating illness. Medicare and traditional health insurance normally only provide for direct medical expenses. Long-term care insurance provides coverage in the event that you need in-home care for an extended period of time.