Is there medication for dementia?

Yes there are meds for delusion and paranoia. You need to talk this over with a Neurologist not a PCP.

Thanks. Are any of your aging loved ones with dementia on any medications for symptoms such as delusion and paranoia?

No medications are currently proven. The new medication that was recently thought to get governmental approval for coverage has now been denied approval for coverage on anything but an "in study" basis. It is unproven to have worked ever and it has caused enough brain bleeds to have studies stopped. Why the FDA approved it I cannot imagine because they acknowledged the dire outcomes of the bleeds and they acknowledged there is no proof it worked and they said they approved it because "the public demands it". Bad medicine.
Many drugs are enormously expensive. Do know that often MDs get 6% of cost of prescription for prescribing. And no, none are proven. You can imagine however how difficult it would be to get one proven to work as how do you compare two groups of people with --say--Alzheimer's to study one half by one half. No two cases are the same; no two cases follow the same progression.
There ARE medications that can improve troublesome SYMPTOMS.

Basically, no there is nothing that will stop or cure it, or even slow it significantly. Some newly FDA-approved drugs are being marketed, but with scant efficacy. The timing of when the drugs are given is important to whether they have any affect.

https://www.mayoclinic.org/diseases-conditions/alzheimers-disease/in-depth/alzheimers/art-20048103

Frankly, there are no medicines for dementia. The ones commonly used are not for dementia, but for attempting to improve memory in the early stages. Those drugs won't stop the progression of dementia and are useless in advanced dementia. They also have multiple unpleasant side-effects.

There are a few but they're not very effective. My mom opted not to take them and I agree. It can't undo damage and frankly, depending on how far along someone is, why would you want to slow this horrible disease down? My mom is confused and not having a great life so I don't want to prolong this stage. If she wanted the meds (which she never does) then I'd let her try them but I was glad she said no.