Is there an insurance product that will cover

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Alex's Dad requires more assistance with day-to-day living. The family recently toured a few private retirement homes. The monthly cost will be around $3,000 per month for the care that he currently needs. Throughout their financial planning, Alex has estimated $4,000 each per month for the cost of possible needed care in future.

QUESTION: Is there an insurance product that will cover these types of costs? If there is insurance available, what are the pros and cons? Please answer in detail.

Reference no: EM133175526

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