There may never be a time you will need long term care, but wouldn’t it be better to be prepared if you do. What exactly does long term care entail? It could be something as simple as needing someone to help you run your errands due to illness or injury. It could also mean no longer be able to care for yourself in a way that you used to be able to, whether that’s feeding yourself, bathing yourself, dressing yourself, remembering to take medications and if that’s the case you may need help. That’s where long term care insurance comes into play.
Here are a few reasons I think everyone needs to look into long term care insurance:
- It will help relieve your loved ones from having to do it all themselves.
- You will have options. You can choose who, where and how to receive care, that way if the time comes there is no decision to be made.
- It can help to protect your assests. If your care is taken care of through long term insurance there will be no needing to come up with money for your family members.
- You can have the option to stay at home as long as possible. While some situations will require that you be in a care facility with LTCI you can stay in the comfort of your home as long as medically possible.
- You can stay with your children/grandchildren without needing them to care for you all the time.
- LTCI helps your family (and you) plan for the future.
A few other things to keep in mind about Long Term Care Insurance
- Check your current insurance coverage. Don’t just assume you have it.
- Get educated. Check reputable websites that relate to aging or long term care.
- Watch what you spend. Don’t try to save money and go for the least expensive plan with little research, it may not be the best option. However make sure you only get the coverage you need. Don’t be talked into items you likely won’t need
- Buy younger. Sure at a young age we don’t necessarily like to think about the getting old and needing help but you can save money and get a better plan.
It’s such an important topic and one that needs to be discussed with your family. This is definitely not the easiest of topics to bring up check out some tips in “Talking To Loved Ones”:
There are so many options to choose from. You will want to make sure you are doing what is right for you and your family. Take the time soon, to sit and talk, come up with a game plan. The first step to decisions like this is definitely having the conversation. What are some tips or reasons you think Long Term Care Insurance is important?
Long Term Care Insurance information in this post brought to you by Genworth Financial. All thoughts are my own and always honest. For more on my policies please see my disclosure in the PR Friendly area.
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