When Is It Time to Think About Long-Term Care Insurance?

By Steve Elliott | August 23, 2016 | Comments Off on When Is It Time to Think About Long-Term Care Insurance?

Long-Term Care Insurance Companies San Marcos CA

Long-Term Care Insurance Companies San Marcos CA

Believe it or not, few people ever really think about long-term care insurance. That’s because they don’t have a tendency to be concerned about relying on home care support, visiting nurses, nursing home care, or other options in their life.

Most people have a tendency to see themselves as they are at the moment, usually strong, independent, and able to take care of themselves. Even when an aging family member, such as a mother or father, begins struggling with their life, health, and physical capabilities, most people don’t translate that into their own limitations and challenges. In other words, few people actually think much about the prospect of them requiring long-term care at some point in their life.

It’s a mistake to make too. Long-term care insurance can be incredibly valuable for anyone, whether they even have the slightest hint they might require some type of care in the future or not.

It’s very similar to life insurance, but is also different. Everyone knows they won’t live forever, so having life insurance that will pay out to beneficiaries when they pass away can offer some peace of mind.

Not everyone is going to require long-term care. In fact, most people don’t rely on the traditional type of long-term care they consider at first. That would be home care.

Most people have a tendency to think of home care or other support within the comfort of their home as defining long-term care, but it’s much more than that. Nursing home care, assisted living, and other independent living options can all be categorized as long-term care, depending on the needs of the individual.

As a person deals with health issues, physical limitations that are the result of aging, and other factors, that possibility of requiring extra care, either at home or at a facility, increases.

So what if long-term care is never required?

A person might rely on their spouse, adult children, family and friends who live in the area, or even neighbors to help them with certain tasks around the house. It seems reasonable. So what if long-term care is never needed? Does that mean the investment and long-term care insurance was wasted?

No, and it’s time to stop thinking like that. The cost of care continues to increase every year. As the federal government continues to cut back on Medicaid and Medicare expenditures for home care, nursing home care, and even supplementing assisted living, it’s placing increased financial pressure on those who require the type of assistance.

No, it may never be needed, but that’s not a reason to avoid discussing the prospect of having some type of long-term care insurance in place, and that means for every adult family member. Otherwise, in the event care is needed, it can place an incredible financial burden on that entire family.

If you or a loved-one are considering a Long-Term Care Insurance Companies in San Marcos CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.

Steve Elliott
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