By: Harold Lustig
You may think you or loved ones are covered if you need long-term care. Get the truth about many misconceptions.
Decisions—some are easy, like deciding what to order in a restaurant, and some are more difficult, like where to buy a home or whether to take a new job. The fact is that whatever decisions you have to make, it is usually better when you have choices.
Thanks to advances in healthcare and a healthier lifestyle, chances are you will live a long life. But with a longer life may come a greater possibility of someday needing help to perform routine tasks such as bathing, dressing and preparing meals. And for conditions such as dementia or Alzheimer’s disease, extended long term care may be needed.
Long term care could be one of the biggest age-related challenges we face. Take a moment to ask yourself: Do you have a long term care plan? If your plan involves other family members or friends, have you spoken to them about it? Chances are you may not be prepared to handle the costs of long term care needs should you get sick or be unable to stay in your home. That’s where long term care insurance comes in. Here are the answers to the 10 most frequently asked questions about this type of insurance.
Long term care is not care that you receive in the hospital or at your doctor’s office to get well from a sickness or an injury. Nor is it short-term rehabilitation from an accident. Long term care is care that you need if you can no longer perform everyday tasks such as bathing or dressing yourself due to a chronic illness, injury, disability or the aging process. Long term care also includes the supervision you might need due to a severe cognitive impairment such as Alzheimer’s disease.
Long term care may be needed for the rest of your life if a chronic illness prevents you from caring for yourself. Long term care insurance can help you pay for the cost of that care.