There have been several articles in the media lately regarding women needing long term care insurance, and women as daughters who give care to parents—even more so than men. Hence, I thought it would be relevant to revisit these topics. It’s serious stuff.
When it comes to options regarding how to fund a future Long Term Care need, it is easy to be confused. If you are one of the many who find this process difficult to navigate, you are certainly is good company!
Let’s Start With the Basics
November is Long Term Care Awareness month. With proper medical care, Oklahoma residents are living well into their 80’s and 90’s, and sometimes longer. The longer you life, the more likely you will need Long Term Care Insurance to provide you the care your Medicare coverage will not.
Long Term Care Insurance (LTCI) helps provide for the cost of long term care and covers services not typically covered by health insurance. LTCI can help protect a family from financial disaster. There are Long Term Care Insurance plans for every budget. Some families need only part-time help in the home that allows time to sleep and run errands. Others prefer full-time professional assistance. Policies can help cover for assistance with bathing and dressing.
One of my female clients just called, age 65. She had procrastinated buying Long Term Care insurance for several years.
Our specialty is Long Term Care Insurance and Medicare Supplements. Long Term Care Insurance and Medicare supplements are what we are passionate about and we know the options available to help find the solutions that will be best for you and your family.
I have to remind myself when I'm talking to clients that they might not readily understand the LTC lingo I use. Learning a glossary of words found in standard policies is beneficial.
Here are a few:
Medicare and Medicaid turn 50 today! I read some interesting trivia this morning:
The Sandwich Generation, as defined by Wikipedia, is a generation of people who care for their aging parents while also supporting their children. Many Americans are finding themselves in this growing generation and struggle with the emotional, financial and time constraints that may arise. Some adults give up careers or the chance for forward advancement in order to care for their families. Others fight the financial burdens of their children’s education and their parent’s rising medical costs.
Did you know?? The 10 leading Long Term Care insurance companies paid $10.8 Million DAILY in 2010
