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Client inquiry: "It has been a busy couple of weeks. My husband's Mom requires more assistance with day to day living. Recently, we have toured a few private retirement homes. We are quite surprised by the monthly cost, around $4,000 per month for the care that she needs. As per the prior agreement with his parents, when they gifted him money to invest, my husband will use funds from his investment account to pay for these costs.
We never considered the cost of living at a retirement home before. We don't want our children to have to worry about paying these costs for us if we need extra help or care when we are older. Is there any kind of coverage we can purchase for this risk? If there is what are the pros and cons?"
How would you respond to the client's inquiry?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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