Charles that he may be afflicted with Alzheimer's disease in the next five years. Annette is 62 years old and has a family history that includes breast cancer and strokes. She is currently in good health and has no serious or ongoing medical problems. Both Adrian and Annette presently survive on government pensions. Charles has many concerns regarding his parents' situation, especially since he's the only child. He leads a very busy life as a geophysicist and travels to remote places for long periods of time. He is divorced and shares custody of two children, one 10 years old and the other seven years old. Charles meets with Lori, his financial advisor. He wants to know the best course of action to take vis--vis his parents' situation. Which of the following is Lori likely to suggest to Charles? (A) "Charles, you should purchase a term-to-100 policy on your father's life and designate your mother, Annette, as the beneficiary so that when he passes away, Annette has a lump sum that can be used in her old age." (B) "Charles, looks like your father, Adrian, may need long-term care as an Alzheimer's patient; I suggest you purchase an LTC (long-term care) policy that will pay benefits on a daily basis when needed." (C) "Charles, you should purchase a basic critical illness insurance policy for your father, Adrian, so that if he is diagnosed with Alzheimer's, a large sum of money will be paid out by the insurer with no strings attached." (D) "Charles, you should purchase a permanent participating insurance policy on your father's life and designate yourself as beneficiary so that when he passes away, you can use the funds to look after your mother, Annette." Charles that he may be afflicted with Alzheimer's disease in the next five years. Annette is 62 years old and has a family history that includes breast cancer and strokes. She is currently in good health and has no serious or ongoing medical problems. Both Adrian and Annette presently survive on government pensions. Charles has many concerns regarding his parents' situation, especially since he's the only child. He leads a very busy life as a geophysicist and travels to remote places for long periods of time. He is divorced and shares custody of two children, one 10 years old and the other seven years old. Charles meets with Lori, his financial advisor. He wants to know the best course of action to take vis--vis his parents' situation. Which of the following is Lori likely to suggest to Charles? (A) "Charles, you should purchase a term-to-100 policy on your father's life and designate your mother, Annette, as the beneficiary so that when he passes away, Annette has a lump sum that can be used in her old age." (B) "Charles, looks like your father, Adrian, may need long-term care as an Alzheimer's patient; I suggest you purchase an LTC (long-term care) policy that will pay benefits on a daily basis when needed." (C) "Charles, you should purchase a basic critical illness insurance policy for your father, Adrian, so that if he is diagnosed with Alzheimer's, a large sum of money will be paid out by the insurer with no strings attached." (D) "Charles, you should purchase a permanent participating insurance policy on your father's life and designate yourself as beneficiary so that when he passes away, you can use the funds to look after your mother, Annette
