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When people hear "long term care" everyone thinks of a nursing home. Most people know of someone who has been in a nursing home and the experience was negative. Fortunately long term care no longer means nursing home care. In my experience over the past ten years working in the health care industry, long term care has come to mean a variety of types of care options. Not only have I helped clients access home care services through a long term care insurance benefit, but I've helped them access day care, assisted living and a variety of other services including personal emergency systems. Education is the most important component of long term care planning.
Most do not realize that Medicare or private insurance doesn't pay for long term care. Parents believe their children will take care of them without even asking their children or thinking of the consequences of broken marriages, financial strain, loss of employment and other significant consequences. Or people believe the government will take care of them or that they can pay for their own care. Most would find their retirement resources strained if they had to pay $72,000 annually for care for one or more years. This expense may strain the ability of a spouse to continue making monthly mortgage payments or to buy food. And long term care needs don't only affect the old, younger individuals, 25-54, have long term care needs because of sporting and car accidents and unexpected health emergencies.
One component of a long term care plan is long term care insurance. I provide education not only about the total scope of long term care planning but also the benefits of long term care insurance to allow clients to make informed decisions. By showing the facts and costs of long term care clients are able to make their own decisions. By protecting your retirement savings and assets from long term care expenses you can remain independent and continue to live with dignity. If you're interested in discussing the benefits of long term care insurance contact me at (303) 810-1816.
Copyright 2011 Pamela D. Wilson, All Rights Reserved.
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