Every now and then we come across a well-written and informative article on long-term care insurance, shared by someone who has experienced some type of long term care event. This is one of them, so we wanted to share it, and once again open up and the lines to any questions and/or comments.
You can read the full article here, but we also wanted to highlight a couple paragraphs.
When one considers the fact that the U.S. Department of Health and Human Services states that “at least 70 percent of people older than 65 will require some long-term care services at some point in their lives,” the importance of long-term care planning comes into sharper focus.
This couldn’t be more true. It’s amazing how many people ignore the very real and likely possibility that someone in their family will need long-term care services. My parents are managing two mothers (both of whom have far outlived their husbands and who are now in their 90s) who have both needed long term care for very different reasons. I’ll go into more detail about this in a later post.
Modern long-term (LTC) policies define what is known as ADLs, or activities of daily living, and if an insured person is unable to perform at least two of six ADLs, the conditions for benefit payments have been met. These ADLs are feeding oneself, toileting, dressing, bathing, transferring oneself into bed and continence. Also, if your doctor states that you have Alzheimer’s or dementia, benefits will be paid.
This is great information to share because anyone considering purchasing long term care insurance has a bit of fear or uncertainty about what insurance for long term care will cover.
This article really is a great read. Read it HERE
Related posts:
Good info here. You may be able to get by without long term care insurance, but most people over 65 will need it.