Skip to main content

Five Reasons to Have Long-Term Care Insurance

Aging is inevitable, so it’s important to prepare for it as much as possible. Below are five reasons Amada Senior Care believes having a long-term care insurance policy is a smart investment.

  1. The possibility that you’ll need long-term care continues to grow. The fastest growing group in the United States is people over 85. In the next 30 years, an estimated 1 million individuals will reach the age of 100. As life expectancy increases, the need for long-term care does as well. At some point, it’s likely that even the healthiest of seniors will need assistance with activities of daily living.

     

  2. You have more choices for how and where you’ll grow old. It’s ideal for many seniors to “age in place” at home. Long-term care insurance covers costs where Medicare doesn’t, like if a senior needs assistance with non-medical care like bathing, getting dressed, or cooking meals. Being financially prepared allows seniors to choose where and how they want to age. “Contrary to what most people think, the vast majority of long term care insurance pays for care in the home or in assisted living communities, not in skilled nursing homes. Consider long term care insurance as nursing home avoidance protection,” said Jessie Slome, director of the American Association for Long-Term Care Insurance.

     

  3. You are prepared for the uncertainty of the future. You may not activate your policy for another 20 years, or you may have a medical emergency and need to activate it tomorrow. Whatever the situation, knowing you are financially prepared for long-term care can make the transition easier. Some may view long-term care insurance as an expense rather than an investment. However, the costs of long-term care (in-home care ranges anywhere from $14 to $28 per hour) are expected to keep increasing and can quickly exhaust even the soundest savings. Noretta Mitchell, an in-home client of Amada, said purchasing a long-term care insurance policy was the best financial decision she ever made. “I can’t even fathom the immense financial devastation it would have caused if I wouldn’t have had long-term care insurance,” Mitchell said. “I would be lost without it.”

     

  4. Your family will thank you. Families want their senior loved ones to receive quality care, even if that means taking on the caregiving responsibilities themselves. Especially for those in the “sandwich generation” – middle-aged adults who support an aging parent as well as their own children – the physical, emotional, and financial burden of caregiving can quickly cause stress and burnout. Knowing mom or dad is financially prepared for aging with a long-term care insurance policy will relieve the worries of your family members.

     

  5. You will have peace of mind. Long-term care insurance will provide financial security that can help seniors age with dignity and without becoming a burden to their families. Being able to afford quality care can help seniors enjoy a quality life – one with less worry, in which they can maintain a sense of independence while surrounding themselves with people and things that they love.

 
While the value of long-term care insurance is proven, policies can be difficult to decipher and the options for coverage can be overwhelming. The help of a professional, such as an Amada Senior Care Advisor, can be crucial to getting the most out of your policy. Amada’s team of professionals can help educate seniors on long-term care insurance policies, and help them manage and analyze existing policies. Amada Senior Care acts as an advocate – negotiating with insurance companies on behalf of seniors and policyholders.

“They are professionals. You just know you’re in good hands with them,” Mitchell said of Amada Senior Care. “With someone like Amada, I don’t really have to worry about the claims process or anything else. I just get to focus on my own health and on getting well.”

Click here to find an Amada Senior Care location near you.

 

 

Written by Taylor French, Amada contributor. 

The post Five Reasons to Have Long-Term Care Insurance appeared first on Amada Senior Care.



from Amada Senior Care https://ift.tt/3577fMI
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Sleep in the Elderly: What is Normal?

If you are a caregiver for a senior, or even just have elderly people in your life, you may wonder about their sleeping habits. It sometimes seems that the elderly don’t need as much sleep as the average person. You may feel like the elderly in your life are sleeping a lot, or sleeping too much during the day. Unfortunately when it comes to sleep in the elderly, what is normal may not necessarily be what is healthy. Excessive sleep or daytime sleeping in the elderly are all related to sleep disorders and can be helped. How Many Hours of Sleep Does an Elderly Person Need? A pervading myth related to sleep claims that elderly adults need less sleep than the average adult. It’s not quite clear how this myth began. Perhaps because elderly adults tend to nap in the afternoons and sleep less during the night. Perhaps because the elderly tend to wake up earlier in the morning, it appears they do not need to sleep as much. Whatever the reason, it remains a myth. From the mid-’20s onward, do...
1 comment
Read more

Dads and Pops: Your Good Health Matters to Us 

Did you know  June is  Men’s Health Month  and Father’s Day anchors Men’s Health Week ?   Celebrate dad on Father’s Day and thank him for all he  has  done, but  also  make sure to seize an opportunity sometime this month to have a conversation with him about his health. This awareness campaign has the critical purpose of informing men   that avoiding preventive healthcare puts them at real and serious risk of  contracting a disease or  acquiring  a chronic condition.   Studies consistently  show the numbers go against men , particularly as they advance into their senior years.   Even with dramatic advances in diagnosis and treatment over the past 100 years, men’s life expectancy still lags significantly behind women. According to  Harvard Health ,  the gap is widening. In 1900, the life expectancy for women was 48.3 years vs. 46.3 for men. In 2017, it was 81.1 years for women vs. 76.1 for men. Harvard...
Post a Comment
Read more

Film Screening at Samvedna Senior Care

On 30th September, 2019, Samvedna Senior Care Foundation hosted the 2nd film festival of generations in association with Heidelberg University, Germany. The film Sputnik Moment – 30 years and beyond was screened at our senior citizen centre in Gurgaon for our members and staff. The film highlighted how senior citizens in Germany and the US were taking up second careers to fill their time, engage meaningfully and also get support through additional income. Post the screening Dr. Martin Gieselmann, Executive Secretary, SAI, Heidelberg University and Dr. Constanze, Coordinator DAAD Project, Heidelberg University along with our team engaged with the audience in an interesting discussion on the Indian scenario. Members shared that in India it is not easy for senior citizens to pick up jobs after retirement, however it was interesting to see that many in the audience did have jobs post retirement. They also spoke about stereotypes and social attitudes towards ageing and shared their per...
Post a Comment
Read more