Do You Need Long Term Care Insurance? - Maybe-Maybe Not.
Statistics indicate that a large number of senior citizens (people over the age of 65) will require some type of long term care. It may be in the form of In-Home Care, Assisted Living Care or Nursing Home Care. It may be a combination of any or all of these. It comes down to the various income and asset resources you have available to you. If you get sick and need help, who do you think will bear the burden?
If you're married, you could turn your spouse's life upside down.
You may also a financially independent retirement. If you're single, your kids may get the burden. They may feel obligated to help you and try to fit assisting you into their schedules and budgets. Finally, you could deplete your assets and money that would otherwise have gone to your heirs.
Therefore, it's important to realize that one reason people get Long Term Care insurance is to help protect their family. The main reason most people get Long Term Care insurance is to help preserve their independence. So, weather or not this insurance is needed depends upon each individual's available assets and what they want to achieve. You can give us a call to help you look at your own particular situation and see if Long Term Care insurance is for you.
If you or a loved one are currently in or going into a nursing home, please call us to see if you qualify.
Extended Care: A Patchwork of Possibilities