All too often the need for Long-Term Care Insurance (LTCi ) is overlooked.
With so many distractions in life it’s not usually on our radar.
While it can take decades to accumulate the assets you’ll need to retire comfortably, just a few years of paying for long-term care may threaten a lifetime of savings.
Including LTCi early in your Financial Planning will give you the opportunity to plan and decide on the LTC setting of your choosing - home, assisted living or a nursing home.
It might be difficult to envision one day needing hands-on assistance with some basic activities we do everyday, like:
bathing
getting dressed
walking
taking daily medicine
cooking
eating a meal
cleaning our home
doing small errands & food shopping
paying monthly bills
But the likelihood of increased frailty and the need for long-term care just increases with age.
Have you thought about what would happen if you needed help with some of your daily activities in life, for several months or for many years?
A LTCi Policy provides for personal care for an extended period of time. It involves providing you with hands on assistance, when you find you are having difficulties with at least two Activities of Daily Living (ADLs): bathing, dressing, eating, transferring, toileting and continence.