They helped you take your first steps. Showed you how to ride a bike. Taught you to drive. Helped you pay for college. Your parents spent years looking after you. And the day may come when you have to return the favor. With the right plan in place, caring for your elderly parents can be a truly joyful experience for both you and them.

Planning is paramount
The key to ensuring financial stability while caring for elderly parents is to have a plan in place now, before you actually need it. That way, when the time comes for you to start looking after your parents, you’ll be ready. A Guardian Financial Representative will work with you to assess your parent’s needs, examine your financial picture, and recommend a long-term plan to minimize the financial impact that elder care can so often bring. This plan may utilize a number of effective solutions.

Solution	Why choose it?
Disability insurance	Disability insurance can help your parents help contribute to their own care by replacing lost income if illness or injury prevents them from working.
Life insurance	If your parents have a permanent life insurance policy, its cash value can help pay for their care. And when the insured dies, the death benefit can be used to care for the surviving parent. The cash value from your own permanent life insurance policy can similarly be used to cover elder care expenses.