Answers
Will being diagnosed with Alzheimer’s disqualify mom for life insurance?
Rosanne Roge answered:
Life insurance coverage is not typically offered for elderly who have been diagnosed before they turned age 75.
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Is a Reverse Mortgage a good choice for seniors, or are there other options?
Jon P. Beyrer answered:
For some homeowners, a reverse mortgage may be the best way to provide income or pay off debts. However, senior homeowners do have other alternatives, which may make more sense than a reverse mortgage. Read Jon Beyrer's full answer.
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How do I go about finding a financial advisor for my parent?
Jon P. Beyrer answered:
Personal finance is a broad, complex, and ever-changing field, yet just about anyone can call themselves a financial advisor. The advisor you choose must be competent, well-informed, and experienced in the areas of investment management and financial counseling. Read Jon Beyrer's full answer.
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How can I help my parent manage her financial information?
Jon P. Beyrer answered:
For many caregivers, the resistance you get and the feeling that you are invading your relative’s privacy may leave you less than completely aware of your elder’s finances. But, if you wait until the elder becomes incapacitated to broach the subject of paperwork, locating important documents can be a much more difficult process.
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How do I balance my responsibilities as caregiver with the long term financial goals of the senior?
Jon P. Beyrer answered:
Your primary responsibility is to make sure your relative’s needs are being met. This includes physical needs, health needs, safety and security, and emotional needs, any of which may involve spending money.
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