Larry had never really paid much attention to his family history, especially as it pertains to health issues. He knew about his grandparents, or at least a little bit about them, and knew some of the major issues his parents were dealing with. He just didn’t think much about them as he moved through his 30’s and 40’s. Yet, as he was cruising through his 50’s, witnessing his mother’s and father’s health issues, he started become more acutely aware of the challenges he might face in the future. He heard about long-term care insurance but didn’t realize how it would be a benefit for him.
When his mother had to go to a nursing home for several months following his father’s passing, he began to get a good sense of why it is so important to plan ahead, not just for retirement, but for the possibility of requiring some type of long-term care.
Larry always assumed Medicaid would pay for long-term care.
He believed his mother and father also believed that. Unfortunately, when his mother was 82 and had to go to a nursing home, they both learned very quickly that she had to use all of her available savings and assets that could be converted into cash.
In other words, she had to take a reverse mortgage out on the house she and Larry’s father had been in for more than four decades.
It was a surprising move and one that woke Larry up to the reality of long-term care costs and other factors. He immediately began looking into long-term care insurance.
Larry then learned why it is so important to be aware of family history of chronic health issues.
The policy rate he was quoted was high. It was a lot higher than he thought it would be. He inquired as to why and discovered because of the family history of certain health issues, there was a much greater risk that he would also deal with the same issues.
Because of that risk factor, he was in a higher risk category for needing some type of long-term care in the future.
Larry learned a little too late why it is so important to be aware of one’s family history and begin looking for long-term care insurance sooner. He still got it, but he could saved money by beginning the policy sooner in his life.
If there is a family history of health issues in your family, it’s important to consider long-term care insurance if you want to protect yourself and your spouse or other dependents, and your savings and investments in the future.
If you or a loved-one are considering Long-Term Care Insurance in Rancho Penasquitos 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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