1. I realize I’m getting older
Getting older and needing help are concerns everybody encounters at some point. You would like to keep your independence for as long as possible. You would prefer not to depend on your children to care for you or make choices on your behalf. You also would prefer to not spend life savings for home care, assisted living, or a nursing home.
Long term care insurance will let you manage these worries and assist you in preparing for a happy, healthier future.
2. I want to stay at home
If you are like many individuals, staying at home is a priority. No matter if you purely need assistance with day to day activities including shopping and food preparation, personal services such as bathing or dressing, or the help of a visiting nurse, long term care insurance can enable you to have the assistance you need from the convenience and comfort of your home.
Should you require a great degree of care at some point, long term care insurance can also be helpful in covering the cost of an assisted living facility or nursing home.
3. I have seen what can happen to people who don’t have it
Maybe you know a person – a friend or family member – who required home care, assisted living or nursing home care and did not have a long term care insurance policy to assist in paying the expenses of a long term care event.
If you are like many people, seeing a person you know and love have difficulty financially and experiencing the emotional and physical impact it can have on them and their families can be enough to make you think, “I don’t want that to happen to me.”
4. I would prefer to not have my kids take care of me
It’s reassuring to know you are surrounded by loved ones that care for you. But in the event it comes to being your caregiver, your loved ones will already have enough to worry about. Your spouse might not be physically capable to care for you. And your children will likely have their own families on work commitments.
Long term care insurance can help make sure you receive the type of care you’ll need without putting physical, emotional and financial stress on your family.
5. I’m not interested in spending my life savings for long term care services
Spending money on long term care services from your own pocket could eliminate a lifetime of savings. If you’re depending on Medicare to assist, you could be in for a big surprise. Medicare typically doesn’t cover long term care services. Rather, it is intended to help enable you to get back on your feet following an injury or illness.
Long term care insurance can help deliver the funds to assist in paying for the type of care you need. And might enable you to spend your life savings how you want.
6. I would like to leave an inheritance for my kids
You have worked hard in order to secure you retirement savings and you want to have something remaining to give to your children and grandchildren. But if your intent is to have Medicaid cover your nursing home expenses, it is important to realize you might be required to “spend down” your assets to be eligible to meet state and federal guidelines.
Long term care insurance can help you preserve your assets for your children and grandchildren.
7. I realize it’s the smart thing to do
The idea of long term care insurance is not much different than other kinds of insurance. An insurance policy delivers money to assist in paying the bills if an unexpected event occurs. All things considered, you probably have homeowners insurance to safeguard you in case of fire or storm, care insurance to protect against an accident, and life insurance protection to provide for your family should you die to soon.
Why wouldn’t you purchase a long term care insurance policy to protect your life savings if you required home health care, assisted living, or nursing home care.
1. One reason they don’t…
A lot of people assume that long term care insurance is much more expensive than it actually is, and they are amazed to discover how affordable it can be to help secure their life savings. In fact, most carriers offer premium allowances that can make coverage even more affordable.
So, if you’ve been putting off purchasing long term care insurance because you didn’t think you could afford it, you should ask yourself if you could afford to pay for the cost of care you may need someday without depleting your savings or having to sell your assets, like your home. If you answered no, the question really becomes, “Can you afford to not have long term care insurance?”
Learn more about how affordable a long term care insurance policy by contacting us by phone at (877) 402-2235 or request a long term care insurance quote today!