Long Term Care Insurance
Harleysville, Perkasie & All of Southeastern Pennsylvania
The Importance of Long Term Care Insurance
Protection is important
There are many misconceptions about what long term care is and who pays for it. Contrary to what many people believe, Medicare and private health insurance programs generally do not pay for the majority of long term care services that most people need.
You are not alone
Even if you are aware of long term care planning options and know that the cost of care could exhaust a lifetime of savings, you may be like most Americans and have not taken the proper /steps to prepare for it. Unfortunately, the public, for the most part, has not yet accepted the idea that preparing for long term care is just as important as saving for retirement.
Long term care is not the type of care that is intended to cure you. You may need care for the rest of your life.
What is long term care?
People often confuse long term care with disability or short-term medical care. Long term care is not care that you receive in the hospital or your doctor’s office to get well from a sickness or an injury. Nor is it short-term rehabilitation from an accident. Long term care is care that you need if you can no longer perform everyday tasks such as bathing or dressing by yourself due to a chronic illness, injury, disability or the aging process. Long term care also includes the supervision you might need due to a severe cognitive impairment such as Alzheimer’s disease. Other long term care services might include speech or occupational therapy, installing grab bars in a bathroom or even light housekeeping or cooking.
Not just for older Americans
When we think of long term care, many of us think of it as a problem for the older generation. However, the need for long term care can occur at any age. Automobile and sporting accidents; disabling events such as strokes or brain tumors; and disabling illnesses such as multiple sclerosis or Parkinson’s disease are examples of injuries and ailments that can happen to anyone at any age. It/s not just about nursing homes.
Long term care is not only about you
Long term care is not only about you. It is about you and your family. As we age and our life span increases, it is important to think about the consequences of living a long life. For example, what if you needed long term care; whom would you turn to for help? Of course, if you have a family, it is likely they would take care of you. The question really is what could providing that care do to your family? What happens if your children are raising their own kids, working long hours, or live far away when you need care? On the other hand, if they are simply financially or physically unable to provide care? Its likely few people can really manage the conflicting demands of working, taking care of a family and caregiving.
Managing life’s major risks
What would you think about someone who told you that they had no homeowners, health or automobile insurance? One way to think about long term care is to look at it like any risks you and your family insure against.
Will your spouse or children really have the time and physical ability that might be required when care might be needed?
We can help you answer some of the questions asked about long term care insurance.
“Won’t the government take care of me?” – “What about disability insurance?” – “What about paying my own way?” -
“Is long term care insurance right for me?”
How can having a long term care a plan in place help you?
Help protect your assets and personal savings.
Help preserve your quality of life.
Allow you to participate in choosing your care options.
Help provide you with the resources you need.
Help relieve the burden of care from your loved ones.
What to look for in a long term care policy
It is important to choose a policy that meets your specific needs and goals. You should also know about some basic features of most long term care policies.
Daily/monthly benefit amount