What does long term care insurance protect? In some instances this is an obvious answer. Let’s keep the burden of care giving away from our kids; they have their own lives to live. The other obvious answer is protecting ones assets. The longer we live the greater the chances of having a long term care event in our lives. Let’s take a look at both areas.
Having come from a family where my mother was the primary care giver for my grandmother after her onset of Alzheimer’s disease, I can truly concur with many people who absolutely do not want to, and will not put their own children in peril of being a caregiver.
I actually saw my own mother age probably 10 years, over an actual 2 year period of care giving, before my grandmother was admitted to a 24-hour skilled care facility. This definitely made its mark on me, something one will never forget I assure you.
Other than the transfer of burden of away from your own children, there is one other item that sticks in my mind. That is the choice involved with your own care or your spouses care.
Most people prefer to stay at home as long as possible. Long Term Care insurance is one way to...
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