Long Term Care Insurance
A LTC insurance plan can be designed to fit a range of personal budgets – for all ages as an accident or chronic illness can befall at any time – not only for the aged.
LTC is the assistance, care or services a person needs when they are unable to perform basic activities of daily living – such as bathing, dressing, eating, toileting, transferring, and continence. Medicaid does not address this form of care and to be eligible for Medicare, one must meet state poverty requirements (varies by state). That the government will take care of you is a myth.
Care for aged and/or ill crosses generational borders – Long Term Care can give relief to family care-givers. Long Term care does not only provide indemnity for a person residing in an assisted living or similar facility
Care costs are always growing; Long Term Care is now part of long term financial planning