Your future care

Planning for your own future long term care is not at the top of to do lists for most Americans however, each year 12 million Americans will require some type of long-term care services nonetheless. This means that each year millions of Americans will need help with basic daily living activities such as eating, bathing, and or continence. The average duration for this ongoing care is usually 3 years long but can vary. We realize that planning for your future long-term care can seem cumbersome and off putting. But if this were you and you found yourself as one of the million Americans who will need care this year or the next, are you prepared?

Prepare for the unexpected

Long term care expenses can present themselves quite suddenly and shockingly as they can be quite expensive and unexpected. These expenses can also be extremely detrimental to your retirement savings and other plans. This is why it is important to plan for these future events as doing so will help ease not only your own mind but the minds of your loved ones who would otherwise carry the burden of your future care. It is known that 56% of family caregivers are also juggling raising and caring for children under the age of 18 within their own household while rendering care to their elderly loved ones. Perhaps, this is why more and more individuals have began to rely on professional caregiving versus family caregivers. This care can ranges from home aids to nursing homes and adult day cares. This type of  care presents a clear solution to a possible future problem of who will care for those elderly loved ones who do not wish to burden their friends and families. The fact of the matter is that this skilled care workers and nursing home costs can be quite costly and thus, require long-term preparation.

It’s personal

This leaves many individuals with the question of how to fund this future care whether it be savings, out of pocket, or long-term care insurance. When determining if you should purchase long term care insurance and just how much insurance to obtain you must first understands the cost of long-term care, when to buy, and who to buy from. There are many options available on the market today therefore, understanding what type of policies which meet your individual needs is important. Your long term care coverage should be personal to you and fit your individuals situation such as personal risk factor, finances, and preferences. Planning for your future coverage should be a carefully thought on and informed decision that begins now. Working with a licensed professional can  be especially helpful in helping you get started.

If you or someone you love is interested in Long Term Care or Long Term Care Insurance be sure to visit: LTC TREE for more information.