A large majority of people have indicated they do not want to burden family members if on going help is needed to get around.
This video on the LifeHappens.org site shares thoughts from several individuals on why they did not want to become a burden. They also bring out the importance of preparing.
Preparing means you care about family, don't want to be a burden, and:
- Your family member won't be faced with the significant physical and emotional issues, which comes with becoming your full time care giver!
- You will have funds in the plan's benefit pool to hire and be in control of needed, but very expensive, professionals to provide assistance.
- Know some of the financial nest egg you created will be protected.
I don't think I'll need long term services! Why should I take action?
First - significant medical advances have occurred over the years. This means:
- People will have more time to enjoy life when they live longer.
- On the other hand the chance goes way up of encountering frailties and/or other changes in health.
Second - 60% to 70% of Americans 65 or older will require assistance at some time according to the American Society of Aging.
In addition, it would be nice but no one can say they won't "need help to get around".
Many said, when they needed help, it was "unexpected". However, to eliminate the unexpected the first step is to ask yourself questions such as:
- Where do you want to be if help is needed and what would you like to happen?
- Do you want to be at home so you can maintain as much independence as possible?
- What would your family do? Could one change what they are now doing to come help?
- Do you have a pile of money put aside to pay for very expensive help and to avoid becoming poor? Would family members help you pay?
Have a Question?
You found information and need help figuring out what it all means! Call John today -
for answers and to talk about the values you and your family gain by owning this important kind of financial protection insurance.
Isn't Long Term Care insurance expensive?
Not in comparison to paying for professional help yourself! Paying a premium for Long Term Care insurance is the most economical approach:
- No matter what your premium is it's just pennies on the dollar compared to all the funds needed to pay for help yourself.
- Then too, the premium cost vs the big risk of needing help is much lower than the cost vs risk for insurance such as on a home or a car!
Another point which lowers the overall cost is Long Term Care insurance premiums qualify for a special tax deduction! The amount is based on your age.
Bottom line — Buying means you — will Not Burden Family — can Protect Savings — will Be in Control of the living situation you want.
Helping Connecticut residents.
John C Parker helps individuals understand how preparing for a change in health » provides certainty » is a step toward achieving what they want to happen » can protect some of their nest egg "for the future".
These pages were developed to share the insights and resources of a professional advisor so individuals can make informed and effective decisions on Long Term Care insurance (LTCi). They are regularly updated:
- What's LTCi - summarizes what long term care is, how it works, and the cost of these services.
- Value of LTCi - some points on what you and your family gain by owning this special kind of "family protection insurance".
- Value of Early Planning - why taking action early to protect your family is important.
- LTCi in the workplace - ideas for employers on the value of implementing a Long Term Care benefit.
- Learn More - links to information on the Connecticut Partnership for Long Term Care; resources and videos about long term services; and the advantages to residents of owning Long Term Care insurance in Connecticut.
Want to Chat with John about these special values? I will get back to you if not available.
Additional insights are posted periodically on the Long Term Care insurance in Connecticut blog.
John C Parker, has achieved professional designations as a Long Term Care Insurance professional and a Registered Health Underwriter. John is licensed to conduct business in CT (644135) and RI (1058420) and does not solicit or sell in other states.
This site shares insights from extensive involvement in professional associations, industry conferences, working with leading Long Term Care Insurance organizations, and individual research. These pages do not advocate a specific company or plan.