If you are financially able, this is a very sensible thing to do. Not only will it help to protect their savings should they have long term care expenses, but it will give both you and them peace of mind knowing that these benefits will be available to assist you in helping your parents if the need arises.

The impact of losses from long-term-care can be catastrophic, and affects everyone in the family.  Monetary costs are very clear.  However, the 'hidden' costs of long term care often including anxiety and guilt, loss of time from work, postponed vacations, and lack of privacy in a case where parents have to move in with their children cannot even begin to be weighed.  LTC insurance provides the financial resources to protect against these costs.