Let me tell you something: you don’t have to buy long-term care insurance. Some people are adamant about it but frankly it’s not necessary for every single person. It may be that you never need long-term care insurance. It is estimated that around 70% of people who reach age 65 will require long-term care for at least a period. The problem with this is that we don’t know how long you will actually need long term care. It may be…
Category: Long Term Care
5 Common Long Term Care Questions
Figuring out what to do in regards to your long term care is a really important decision, and I want to make sure that you get it right. While I don’t think it’s always necessary to buy a long term care insurance policy, I do think it’s essential to have a long term care plan. As you analyze your options, consider (at least) these 5 questions: 1. Do I really need long term care insurance? 2. When should you buy…
What Types of Long-Term Care Are There?
Not all long-term care is the same. Some types of long-term care are more hands-off whereas others are pretty intensive, providing care 24/7. And other types aren’t solely related to housing, but still offer assistance to seniors in a variety of ways. Before we get started, let’s make sure we are all clear on ‘What is Long Term Care?‘: Long Term Care helps an individual perform what is known as Activities of Daily Living (ADLs). There are six basic ADLs:…
What Is Long-Term Care?
Long Term Care (which is separate from your Health Insurance) is designed to specifically cover the cost of care related to your health if you are not able to take care of yourself. This extra care could be needed as the result of a major health setback such as a heart attack or stroke, or the need for care can develop slowly as you get older, especially if you have an ongoing health condition or disability. It could also arise…