A large majority of people have indicated they do not want to burden family members if on going help is needed.
This video highlights the value a couple received from their Long Term Care insurance and how it solved the "how can I be prepared" problem. Buying provided them with certainty and illustrates how, even though many people are uncertainty on whether their health will change, this couple was not.
Taking action to buy means you care about your family, don't want to be a burden, and they:
- Won't be faced with the significant physical and emotional issues, which come when a family member becomes your full time care giver!
- Can hire, using the funds in your benefit pool, the needed, but very expensive, professionals to provide your assistance.
- Know you prepared for the future and protected some of your financial nest egg from being put at a significant risk.
More video stories are on the LifeHappens.org site on how others gained from their "long term care health insurance". These stories are to the right of the main video.
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:
- On the positive side people will have more time to enjoy activities and life when they live longer.
- A longer life however means 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.
These points tell us the risk is high and - no one can say they won't "need help to get around".
Many say their needing help was "unexpected". However, the first step to doing something to elimate the unexpected is to ask yourself questions such as these:
- Where do you want to be if help is needed and what would you like to happen?
- Do you want to receive assistance 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? Who could?
- Do you have a pile of money put aside to pay very expensive help and 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! A couple points on how the premium for Long Term Care insurance, what ever it might be, is the most economical approach:
- No matter what your premium is it's just pennies on the dollar in compared to all the funds you would need to pay for help yourself.
- In looking at the premium cost vs the big risk of needing help it's much lower than the cost vs risk for insurance such as on a home or a car!
Then too, plan premiums qualify for a special age based tax deduction which results in an overall lower cost!
Bottom line — Buying creates a pool of funds to hire help, which 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 works to help individuals sort through all the information and educate them about the certainty received when action is taken to buy Long Term Care insurance (LTCi) and protect some of their nest egg "for the future".
These pages were developed to share insights and resources and are regularly updated. They focus on:
- 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 our blog Long Term Care insurance in Connecticut.
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.