Many people ask, "Should I wait to buy Long-Term Care insurance when I'm older because I don't think I'll need if for a long time. I'll be paying for it all those years that I won't be using it". This is a very good question.
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LTC Insurance Blog
Simplifying the process of understanding Long Term Care, and helping you decide if Long Term Care insurance is right for you.
The absolute worst time to have to pick a live in community for someone you love is when you have no choice. In theory, a family should have time to look over the various types of residences and communities, ask questions, and gather information before making a decision. Then, make a well thought out decision based on needs, and all the evidence and information that has been gathered. This allows for calm, well thought out decision.
When Alzheimer's strikes most families don't know where to look for help, or what to do.....
Yesterday I posted How Would You Answer This Question?
Following a thorough physical and neurological examination, our mother was diagnosed as being in the early stages of Alzheimer's disease. My siblings and I are starting to talk about future care and what actions we should be taking to keep her safe. Unfortunately we are clueless and don't even know where to start. Our father died very suddenly years ago, so we never dealt with any care plan issues with him. Can you give us some direction?
It’s a prudent and logical question for upper-middle and high income individuals to consider as they ponder purchasing Long Term Care insurance as part of their retirement plan. Having helped many such individuals plan for their future long term care needs, I’ve come to the conclusion that many, who think they have adequate capacity to pay for extended care giving services out-of-pocket, haven’t done the math as thoroughly as they should.
When counseling clients, some will say, “I think we have enough in our retirement savings to handle any long term care needs that might arise.” They may be right. With a few follow-up questions, I learn that they might have anywhere between $500,000 and several million dollars in retirement savings and investments. By providing additional information, I’m usually able to encourage a more realistic look at how far their retirement nest egg will last should they need extended long term care. Here are the key cost considerations that are often overlooked.