Because a husband had contacted long-term care insurance companies years before and paid for a policy for his future, it made his financial future manageable. Here is his story.
The rain was steady. The gray curtain seemed to hang over the world, refusing to let it return to the warm sun. After too many days, Mary felt exactly the way the world looked outside her window. Life was suddenly darkening for her as her husband lay in a hospital, having suffered a major heart attack.
He had survived, but the prognosis was lukewarm, at best. His doctors were not certain what the future would hold for the love of her life. They were cautiously optimistic (as they put it) that he would make it through this and be able to return home at some point in the future. The road ahead, they warned, would be long and difficult.
There was talk about nursing homes, physical therapy, and months of support.
In truth, her husband’s doctors were quite forthright, claiming he may need physical assistance for years, perhaps even for the rest of his life. There were some indicators that her husband was dealing with some level of brain trauma as a result of the lack of oxygen while his heart had stopped.
While he was still in an induced coma, all they could do was speculate. Mary had to start planning for the future, including having the right assistance and help in the form of a professional, experienced caregiver or institution where he could be comfortable, safe, and that would be practical for both of them.
Mary was stunned to learn of the cost of long-term care.
She had no idea that in her state, a nursing home could cost well over $150,000 for just one year. Assisted living in some places was almost the same. More affordable in other facilities, but still, it was a shock to her financial mindset.
She began sitting down and calculating how much this would cost, what would happen if things progressed for years on end, and realized they would be broke before the end of the second full year trying to pay for this type of assistance by themselves.
She was completely surprised that Medicaid wasn’t going to cover any long-term nursing home care until all of their available assets had been used up first. Their health insurance was only going to cover short-term care.
When things looked bleakest, that’s when Mary found a policy that her husband had attained after looking into long-term care insurance companies.
She kept running the numbers and as her husband finally woke up and began the long road to recovery, she felt like everything they’d worked their entire life to save for would be gone in two short years.
That’s when she found an envelope with a policy inside. It was a long-term care insurance policy her husband had purchased more than 15 years ago. She looked at the monthly policy costs, couldn’t believe he had been prescient enough to think of this back then and that he had contacted long-term care insurance companies, but it was going to cover up to three years of long-term care expenses.
She wept with joy, not just because her husband was beginning to return to her, but because he had been thinking and planning, even about something she never even realized was an option.
If you or a loved one are considering Long-Term Care Insurance Companies in Del Mar CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
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