The golden years are supposed to be, well…golden. People don’t envision themselves hobbling into the kitchen to heat-up a TV dinner because that’s all they can muster the energy or stamina to make. People want to age with dignity and grace, getting the help they need, but maintaining as much independence as possible. Carefully planned Long Term Care insurance can make these visions an absolute reality.
Long Term Care insurance isn’t just for older folks though. Accidents hppen, and life gets in the way. We all know that life throws curve balls without any warning whatsoever. Even younger people can benefit from a carefully selected care insurance policy. Ordinarily however, these types of insurance policies are designed to pay for the costs associated with living in a nursing home, assisted living facility and often, even in-home health care. The policy is most often exactly what it says. It is a long term insurance for a stage of life that requires help with the activities of daily living.
The good news is that there is a policy out there for most budgets. Long term care insurance is available for the “oops I didn’t save like I thought I did” budget, as well as the independently wealthy. Inflation protection is often available, and policies can be purchased for a variety of daily rates.
Long term care policies can be utilized to protect assets and preserve wealth as well. Having a policy can allow you to dictate what you want when you need help and assistance on yours and your family’s terms, not Uncle Sam’s.