Long Term Care Insurance

Why Long Term Care Insurance?

You're planning, you're saving, you're doing your best to prepare for a secure retirement. But have you considered the costs of Long Term Care, and how that could affect your retirement plan? Have you thought beyond your own personal care and considered the consequences to your family members trying to provide that care? Most of us don't have a plan if we become seriously ill or disabled. Including a plan for this while we are still in our 40s and 50s allows the plan to work, and not get sabotaged by an unexpected event.

There are currently 44 million unpaid family caregivers in the U.S. These families provide care that averages more than 4 years in their private homes, much of it due to affordability issues. There are 15 million middle-aged children who are paying for some or all of their parent's care, because their parents have run out of money, and they don't want to go to a facility. Making the decision to send a family member to a facility is heartbreaking, but deciding to keep this person at home can be worse. However, LTC insurance can allow family caregivers to supervise the care, not provide it. It can offer the flexibility for family to be there when they can.

The cost of care can derail the best laid retirement plans and destroy the standard of living and quality of life for the entire family into the future. 75% of family members who provide the care have their own health affected by the burden. 60% of family caregivers, usually the daughter, also work and have their own children. Many are seeing their career advancement and future earnings drastically affected. The surviving spouse may live on for many years without the type of retirement that was initially envisioned before one spouse became ill.

So, who will coordinate the care? Where can you find caregivers, and how can you monitor the care being delivered? Having a plan of care is important, but how do you put that together? Most long term care insurance plans include all this at varying levels.

So, these are the main issues to learn about and discuss with your familiy. Long Term Care Insurance doesn't have to be complicated and confusing. You shouldn't be subjected to sales pressure while trying to learn about this. Mark Baron will take as much time as you need to educate you and patiently answer all your questions. He can simplify it, focusing on the big picture. Long Term Care Insurance isn't for everyone, but you will be able to determine whether it's the right thing for you once you understand how it works.

Choosing the correct insurance plan is affected by many factors, such as health, marital status, age, and the type of benefits you want. It's not possible to know the best choice in a company without exploring these factors first.

Click the tab for the "Introduction to Long Term Care Insurance" to give you a good basic understanding. If you are questioning whether you are too young to consider this, go to the page titled, "The Hidden Cost of Waiting to Purchase". You can also download the "Shopper's Guide to Long Term Insurance", which is provided by the National Association of Insurance Commissioners.

Massachusetts and several other states have been running a Long Term Care Awareness program, initiated by the National Health and Human Services Administration, and packages are being mailed out by office of each state's governor. Massachusetts is scheduled for February, 2010. A page has been setup on this site explaining that.

If you would like to arrange a meeting with Mark in your home or business, simply click the link below, or complete the form to get more information.

If you would like Mark to contact you, or if you have any specific questions, please complete the form below and he will get right back to you. When you have finished, click the submit button.

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