A large majority of people report they do not want to burden family members if on going help is needed.
What to do? Yes, there is a lot of uncertainty on whether a change in health will happen. The important question however becomes - How can I be prepared - "if" it does? The best way to gain certainty is highlighted in this video. It brings out the value a couple received from their Long Term Care insurance coverage.
Stories like this tell us buying what might best be called long term health insurance is the best way to prepare. Buying means you care about your family, don't want to become a burden, and they:
- Won't be faced with the significant physical and emotional issues, which come with becoming your full time care giver!
- Can hire the very expensive professionals needed to provide your assistance. Funds in your benefit pool make this possible.
- Know you have protected some or most of your financial nest egg from being put at a significant risk.
More stories about the reasons for having this important financial protection insurance and the value various individuals received can be found on this LifeHappens.org page.
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 living longer will have more time to enjoy activities and life.
- Living longer however means the chance we will face frailties and/or encounter other changes in health goes way up.
Second - the American Society of Aging reports, 60% to 70% of Americans 65 or older will require assistance at some time.
These facts tell us we should "expect" to use assistance. In other words - no one can say they won't "need help to get around". However, many react - it was "unexpected" and nothing could have been done.
However, if questions like these had been asked something could have been done. They are an effective first step: (Important to do it today.)
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 if you needed day to day help getting around? 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 a plan, what ever it might be, is the most economical approach:
- It's just pennies on the dollar in compared to all the funds needed to pay for help yourself.
- The cost of the premium 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!
Then too, plan premiums qualify for a special age based tax deduction which results in an overall lower cost!
Bottom line — Buying "long term health insurance" 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's focus is to help individuals better understand the certainty received when action is taken to protect some of their nest egg "for the future".
The pages on this site provide information, insights, and resources on Long Term Care insurance (LTCi) so you won't become a burden on your family! John regularly updates these focused pages:
- What's LTCi - summarizes what long term care is, how it works, and what these services cost.
- Value of LTCi - some points on what you and your family gain by owning this special kind of family and financial 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 Connecticut Partnership for Long Term Care information; 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.