Most people are enthralled with the idea that they might not have to work every day at some point in their lives. The concept of retirement and you owning your own time is exciting and scary.
There are financial concerns. Do you have enough resources to enjoy a successful future retirement? Then, there is your health and the changes that happen as we get older. These changes are normal parts of the aging process. Our health will decline. We will notice changes in our bodies. Perhaps the scariest for most people is the risk of dementia.
You should be aware of the signs you or a loved one may be experiencing more than just normal aging.
Forgetting Your Keys Doesn't Mean You Have Dementia
Don't worry; forgetting your keys from time to time does not mean you are experiencing cognitive decline. However, if you are starting to have trouble find the right words or forget where you are, it may be more than just normal aging.
Dementiais a term for a group of memory problems we may experience. Sometimes it leads to personality changes, inability to focus, and diminished language skills, and more. The result is we need supervision, and long-term health care costs are expensive.
These long-term care costs continue to get more expensive over time. The LTC NEWS Cost of Care Calculator will show you the current and future cost of extended health care services where you live.
Most Insurance Will Not Pay for DementiaCare
Health insurance, Medicare, and supplements will only pay for a small amount of this type of care if anything at all. Long-Term Care Insurance will pay for this type of care, and in 2020 the major companies paid over $11.6 Billion in benefits, much of it for in-home care. However, you can't get LTC Insurance when you need it; you must purchase it when you are relatively healthy, ideally in your 40s or 50s.
Be careful when shopping, however. Most insurance agents and financial advisors have limited knowledge of this type of insurance. It is best to seek the assistance of a qualified and experienced Long-Term Care Insurance specialist who works with the major companies.
Early Signs of Dementia
There are several types of dementia. Alzheimer's is the most common and famous of all of them. Vascular dementia is the second most common type of dementia where your blood flow to your brain has become diminished. There are more; however, you and your family will notice signs over time.
There are seven early signs of dementia that the AARP notes every family should be looking for in themselves or a loved one. The risk of cognitive decline increases when you are older; however, those in their 40s and 50s will occasionally see early-onset dementias.
Read about the signs by clicking here.
Prepare Family and Finances with LTC Insurance
Prepare your family and finances for the changes in your health, body, and mind you will face in the decades ahead. For many families, affordable Long-Term Care Insurance will be your best option giving you guaranteed tax-free benefits to access your choice of quality care, including in-home care.
Be sure to start planning before you retire; the earlier, the better.
A complete retirement plan should include a strategy for longevity and the impact that long-term health care will have on you, your family, income, savings, lifestyle, and legacy. This includes the consequences due to dementia. Affordable Long-Term Care Insurance gives you access to your choice of quality care either at home or in a facility.
Remember, Long-Term Care Insurance will pay for long-term custodial care, the most common type of care we will need. Health insurance, including Medicareand MedicareSupplements, will only pay for a small portion of skilled care. Medicaid will only pay if you have little or no savings and income.
You Must Health Qualify to Obtain Coverage
The underwriting criteria are different with each company. You will have to answer some health questions even to obtain accurate quotes. You ideally want to get coverage when you enjoy good health. If you are already receiving care in your home or if you live in a care facility, you would be ineligible for coverage.
Seek Help of a Qualified LTC Specialist
A Long-Term Care specialist can help you determine your eligibility based on your health history and other factors. Most financial planners and general insurance agents are not knowledgeable about underwriting, features, benefits, federal/state partnership programs, policy design, and claims.
Find a qualified specialist by clicking here.
LTC NEWS Cost of Care Calculator
Your research should include finding the current and future cost of long-term care services in the area you live – or plan on living in the future. Use the LTC NEWS cost of care calculator by clicking here.
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Get exposure, gain traffic to your website, improve your SEO, and enhance your business with LTC NEWS. Reach an educated audience. Readers of LTC NEWS are researching retirement issues, including aging, health, caregiving, and long-term care. Other readers seek information for a parent or other loved one who is experiencing declining health or aging issues and require extended care.
Many marketing opportunities are available, including sponsored content articles. Sponsored content offers you a long-form way to sell yourself, your company, and your ideas.
Learn more about how LTC NEWS can help you market your business, improve your SEO, and help you gain exposure - click here.
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You can be a contributor to LTC NEWS and give yourself and your blog, website, or business exposure and greater credibility while improving website traffic and SEO.
LTC NEWS offers many resources to help families address the consequences of long-term care, aging, health, caregiving, and other retirement issues. You can be part of the effort to help educate consumers throughout the U.S. and around the world.
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