In her New Old Age article (“Children of Aging Parents Are Often Nearby, Study Finds,” New York Times, September 14, 2012), Paula Span reports on a new study by Michal Engelman, a University of Chicago gerontologist. In his study, Dr. Engelman gives insight into why parents move closer to their children as they age.
He found that people who own long-term care insurance (LTCi) are less likely to move closer to their children, apparently because “it shows potentially less need for family care. If they need more help, they’ll be able to get it.”
Here is additional proof that owning LTCi gives people options and increases independence. LTCi ownership reduces stress and burden to family members.