The question is not if you'll need care, but when. The best time to plan for care was yesterday. However , you'll never be younger and probably not healthier than today.
You can't avoid aging, it happens. With good health habits you can enjoy a long life. Still the potential of needing assistance improves the longer you live. Your options when in good health are two: 1. Taking on the risk yourself 2. Transfer the risk with: Traditional Long-Term Care Insurance or Life Insurance with a long-term care rider. When you lose your health your options are still two: 1. Take on the risk yourself. 2 Transfer your estate to become a "ward of the state".
The simple truth is LTC insurance remains the best option to protect individuals and their families. The insurance and financial industry needs to be more effective in educating the public that medical and disability benefits do not cover LTC, as well the limitations of government programs, like Medicare and Medi-Cal.
It is vital to take action, be proactive in long-term care planning.
“A year from now you may wish you had started today.”.....Karen Lamb
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