Long Term Care

Seven Reason People Buy Long Term Care Insurance

I know I’m getting older

Growing old and needing help are issues everyone faces at some time. You want to maintain your independence as long as possible. You don’t want to rely on your kids to take care of you or make decisions on your behalf. And you certainly don’t want to spend your life savings on home health care, assisted living or nursing home services.A long-term care insurance policy may help you address these concerns and help prepare you for a happy, more secure future.

I want to stay at home.

If you’re like most people, remaining at home is a top priority. Whether you simply need help with day-to-day activities like shopping and meal preparation, personal services like bathing and dressing, or the services of a visiting nurse, a long-term care insurance policy may allow you to receive the help you need in the comfort of your own home.And if you should need a higher level of care someday, long-term care insurance also may help cover the cost of an assisted living facility or nursing home.

I’ve seen what happens to people who don’t have it.

Perhaps you know someone – a friend or family member – who needed home health care, assisted living or nursing home services and didn’t have a long-term care insurance policy to help pay the bills.If you’re like most people, watching someone you know and love struggle financially and seeing the physical and emotional toll it can take on them and their families is enough to make you say, “I don’t want that to happen to me.”

I don’t want my kids to take care of me.

It’s comforting to know you have loved ones who care for you. But when it comes to being your caregiver, your family already has enough on their plates. Your spouse may not physically be able to care for you. And your children have their own family and work obligations.A long-term care insurance policy may help ensure you receive the care you need without placing an emotional, physical and financial burden on your family.

I don’t want to spend my life savings on long-term care services.

Paying for long-term care services out of your own pocket might deplete a lifetime of savings. And if you’re relying on Medicare to help, you could be surprised. Medicare generally doesn’t pay for long-term care services. Instead, it’s designed to help get you back on your feet after an injury or illness.A long-term care insurance policy may help provide the funds to help pay for the care you need. And that may allow you to spend your life savings the way you want.

I want to leave an inheritance for my kids.

You worked hard to accumulate your retirement nest egg and you want to make sure you have something left to pass on to your children and grandchildren. But if your plan is to let Medicaid pay your nursing home costs, you need to realize you may have to “spend down” your assets in order to meet state and federal eligibility guidelines.A long-term care insurance policy may help you preserve your estate for your children and grandchildren.

I know it’s the smart thing to do.

The concept of long-term care insurance isn’t that different from other types of insurance. A policy provides money to help pay the bills if something happens. After all, you have homeowners insurance to protect you in the event of a fire or storm, automobile insurance to protect you if you’re involved in an accident and life insurance to protect your family if you die too soon.Why not purchase a long-term care insurance policy to help protect your life savings should you need home health care, assisted living or nursing home care?