We think of Dementia and Alzheimer’s like something that happens to the elderly. In fact, that is true. As you age your risk of cognitive declines increases. With longevity, and more people living to age 75, 80 and beyond, more and more people will suffer from some type of cognitive decline. Unfortunately, today we see more people who are younger get diagnosed with some type of early onset Dementia. No matter what your age, too many people are not prepared for the financial, emotional and physical issues that come from aging and health issues.
Tracey was in her early 50s when she knew something wasn’t right about herself. She started to struggle with remembering things she should have easily had no problem remembering. She writes in the UK’s Metro NEWS that she just wanted to know what was happening to her. Was it depression? Maybe menopause? Doctors said no to both.
She writes, ”I felt like due to my age, nobody believed me. Yet simple things that I knew and trusted myself to do were changing”
Read the full story here: https://metro.co.uk/article/dementia-at-50
No matter the age, a long-term care event creates a large amount of stress on your family. Caregiving is very hard. Your loved ones have their own families, careers, and responsibilities. No matter what they tell you they will not understand the full impact of being a caregiver until they face the responsibility personally. Paid care drains savings and adversely impacts your income and lifestyle. So, what to do?
The easy and affordable solution is Long-Term Care Insurance. Long-Term Care Insurance will provide the tax-free resources to pay for the high cost of care. Supervision due to cognitive impairment is necessary for most people who suffer from Dementia. People require long-term care services and support for many other reasons as well including accidents, illnesses and just the impact of getting older.
Money is important and you want enough money to pay for your choice of quality care in the setting you desire. But it is not all about money. It is about family. Your spouse probably will not be in a position to be much help. They will either be older when you require care yourself or they may still need to work. There is always the question if your spouse is the best fit to be a caregiver. It also becomes much more difficult with age.
Your children will have their own careers, families, and responsibilities. Long-Term Care Insurance will give your family the gift of time. They will have the time to be loving and supporting. In the end, isn’t that what you would rather have them be?
You hope you will not be like Tracey and have memory issues at a young age. You hope you never lose your independence and need any kind of help at any time. The facts suggest the risk of needing some type of long-term care is high. With longevity, you become more likely to require care. Health insurance or Medicare and Medicare Supplements only pay for a small amount of skilled services. Most long-term care, including the care required for those with memory problems, is custodial in nature. This means it primarily helps with normal living activities. Custodial care is not paid for by any health insurance including Medicare. Long-Term Care Insurance pays for all levels of care, skilled or custodial, in any setting you desire. It puts you and your family in control. You avoid crisis management.
Start your online research by finding your state on the LTC NEWS MAP. This shows you the current average cost of long-term care services and supports, available tax incentives and the availability of partnership plans which provide additional dollar-for-dollar asset protection. Click here for the map.
Be sure to seek help from an experienced Long-Term Care Insurance specialist. They can guide you to find the best plan for your situation. You can find a specialist by clicking here.
You can’t wait for your health to change dramatically as it did for Tracey. Premiums are very affordable, especially if you act prior to retirement. Don’t put your family into crisis mode. Safeguard your savings and reduce the stress on loved ones. Long-Term Care Insurance, easy, affordable and rate stable income and asset protection.