The Hard Facts and Current Trends:
People are living longer than ever. Medical advances treat many illnesses far better than just 10 or 20 years ago. Most family members are not skilled enough to care for a spouse or parent(s). Many children or family members don’t live in the same state or region any longer. As a result, more and more people need care in assisted living or in their homes. The cost for this care is very expensive and a major drain on assets. An extended stay can wipe out most individuals/couples retirement assets. Some seniors are afraid to spend their money for fear they will need it for long term care. Most seniors do not want to be a burden on their family or loved ones. We recommend taking a look at long term care insurance to protect against this major risk
Not a pleasant thought:
No one wants to imagine needing care in a facility or having a home health nurse taking care of you. Sweeping those thoughts under the rug doesn’t solve anything and is not the answer. It is wise to be proactive and look at the many options available to protect against this risk.
Take advantage of your age and health:
Premiums escalate with age and become unaffordable at advanced ages. The chances you will be declined due to health issues increase dramatically with age. A retirement plan is not complete without addressing long term care. The lapse (cancellation) rate for long term care policies is extremely minimal. This means people who buy long term care policies keep them and for good reason. Having a plan provides peace of mind and allows you to enjoy your retirement savings.
Please review our pages for a basic overview of long term care. For in depth information please visit futurecareassociates.com. This site is hosted by Tom Lilly, an associate of ours, with many years of experience focused on Long Term Care.