"Earlier this year we had to move mum into respite care, which was £1,600 a week, which gave us time to find a great nursing home for her. She's just been able to move into the nursing home now."
For St Louis, having that financial knowledge to be able to make sure that wills and POAs were put in place was important for the whole family at this time.
However, for many families in Britain who do not have that financial knowledge or know about care costs, both St Louis and Braun made the point this is where specialist advisers and trained insurance professionals can step up to help clients experiencing cognitive decline.
To listen to the full podcast, which also carries a special report by FTAdviser reporter Tom Dunstan, click on the link above.
Join the day of fundraising
The podcast aims to raise awareness of the upcoming Insurance Day For Dementia, which FTAdviser is supporting. Any money raised on November 30 will be matched by Zurich UK.
Launched in 2017, Insurance United Against Dementia is a campaign bringing the insurance industry - providers, advisers and underwriters alike - together to raise awareness and funding for research into Alzheimer’s.
Click here to find out more details and to get involved in supporting the day of fund raising on November 30.
There are many ways to get involved - for example, FTAdviser is going to be organising card and cake sales in the office, as well as wearing blue and yellow (the colours of Alzheimer's Society).
CPD
This podcast also carries an indicative 30 minutes' worth of CPD.
