text: financial hardship for 70 yr old parents - i don't know what to do - can anyone help? parents were robbed of there savings, by sibling. they have no life insurance or ira's. the only thing they have is a house that is paid for.  my father's health is failing, he smokes, 72 yrs old.  would it be wise to look for life ins. to put on him now? or any other suggestions? my mother (69 yrs) had a stroke 6 years ago, she also has no life insurance.  any real suggestions would be great.  i know in the long run i can sell the house, but i don't want to do that.  can we do a living will and get a mortgage that i can pay for, just so i have $$ in the bank in case of there demise (funeral expenses) or long term health care? you may want to look into a reverse mortgage.  this way they can use the value of the house to provide income.  here is some info on reverse mortgages: http://www.regionalmortgages.com/reverse.html