Long Term Care Insurance Saves One From the Pitfall of Aging

Whether you choose to settle down in a retirement community or to receive care in a nursing home, or perhaps to simply stay home and hire a home health aide which charges $19 an hour, there’s no escaping the high costs of long term care.

Only with a long term care insurance (LTCI) policy can you afford to have peace of mind because you’ll manage to survive what is currently perceived by the aging folks as a pain to their finances and a threat to what is otherwise supposed to be a phase of relaxation and comfort.

If you’re retiring soon and contemplating moving into a retirement community, you must be prepared to fork out $2,000 to $5,000 a month. These figures are not yet inclusive of your personal supplies so think of how much more you’re going to spend let’s say for three years or even five, as it has been foreboded that baby boomers have a longer life expectancy than the past generations.

LTC facilities are no doubt soaring fast that is why those nearing the age of 60 have repeatedly been told to plan for their retirement years. If you’re prepared then you’ll definitely be able to sail through old age unscathed. If not, then I wonder how you’re supposed to face the cost of home care, assisted living facilities and nursing homes once prices double in 2026 and increase fourfold 20 years from now.

Aging is not a scary thing. In fact, it’s worth looking forward to because after 40 years of hard work you will finally be able to spend days and nights appreciating your picturesque town which you hardly took notice of before, as you were too engrossed in your eight to five job.

If there’s one good thing that you were able to acquire from working day in and day out for the past decades of your life apart from providing your family’s needs, that would be the opportunity it has given you to invest in a long term care insurance.

Regardless of whether it’s a group LTCI or an individual policy, once an opportunity like this comes you should jump at it especially if you are pretty much aware that you don’t have much liquid assets or properties to finance your LTC expenses.

You don’t have to be rich in order to enjoy old age. All you need is a secured plan for the future, the kind that will shoulder your healthy care and custodial needs so that you can spare your family from any kind of worries.

Having a long term care insurance policy will enable you to face your golden years with confidence and a big smile in your face. As soon as you turn 60, try as much to pursue a hobby or get into activities you’ve always dreamt of doing so that by the time you qualify for long term care you won’t have a single feeling of regret.

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