Why You Need Long Term Care Insurance

Long Term Care InsuraceMae West once said “You only live once, but if you do it right, once is enough”. For most folks, you live the life you know how to live, working, raising a family (or not), doing what inspires you and doing the best you can right up until the end. No one thinks about the end, it’s a place that’s always the furthest thing from everyone’s thoughts. Perhaps no one wants to think about the end-game in life because it’s just too depressing, something you don’t want to think about if you don’t need to. Well, hopefully you’re ready for the end, and if not, perhaps this is something you should read.

Did you know that over 42% of adults over the age of 65 have some type of limited, functional limitation? Did you know that the probability of being cognitively impaired for folks over the age of 65 is 68& of the population? Do you know what this means? It means you might need help when you get older. Do you know what type of help you’ll need when you get older? Probably not, that’s why there’s this thing called Long Term Care Insurance that you can buy now and start paying a fraction for what you’ll actually need when you get to that age. This isn’t a gamble, it’s a for-sure thing that says you’ll need help when you get to that age, and if you have Long Term Care Insurance, then you can rest assured that you’ll be taken care of properly.

But that’s not the only thing about needing help with getting around and getting help with doing things for yourself. There are additional statistics. From what we gathered in the statistics above, this means that roughly 38% of adults under the age of 65 will have some type of limited functionality limitation. This means that there’s no such thing as being immune from having physical problems during your lifespan. Whether it’s from a car accident or an accident at work or an accident at home, there’s a 38% chance that you might run into this situation where you can find yourself needing help getting around. Long term healthcare can come in handy in this type of situation too. If you’ve bought into a policy and started paying minimal amounts to maintain some type of care, then you can rest assured that you’ll be covered when the time comes and when you need it. You might only need a month or so of help, but if you have the insurance then you’ll be covered and taken care of, whereas without it you’ll have to rely on family to take care of you or the kindness of strangers to help you out when you need it most.

There are many types of Long Term Care Insurance policies out there, all you need to do is research a few of them. Go online and google the phrase, and you’ll find lots of hits for potential sources of more information. Most companies offer policies at a discounted rate, so if you can get into your employer’s policy you’ll definitely make out better than trying it alone. The key to remember is that the earlier in life you start out with getting a policy, then the easier it is to secure a policy (sometimes without a health check-up, depending on your age and existing health), whereas if you wait too long then you might have to pay a little more, sometimes a lot more.

The whole thing about socialized medicine is that the country will take care of you when you’re sick, but when you’re discharged from the hospital (which hospitals like to as quickly as possible nowadays) then you’re on your own to find the care you need to help you do the simple things in life like get up and out of bed and do the shopping and clean your house, etc. etc. These things add up and most folks don’t think about these things but if you’re on your own then you’ll need to find help to get you through these periods. If you’re covered with a good policy, then you’ll be taken care of during this critical time of your life.

The lesson here is that if you have the opportunity to get yourself into a long term care insurance policy, then think really hard before turning it down. Even if you don’t use it, there are often stipulations where you can hand it off to others in your family or your friends. You’ll never know until you try, so think real hard before you turn down the option to get yourself some security for this type of insurance. In the words of Allen Saunders, “Life is what happens to you while you’re busy making other plans”, so don’t blow the opportunity to plan for the unexpected.