Who Should Get Long-Term Care Insurance?

For most people, planning for the future is about wanting to travel the world, go back to school, or traveling to see the world. As we get older, those plans may shift and draw more attention to home and family. We know you should plan for your retirement early in your career to ensure you have enough saved to fund your golden years, but we rarely talk about planning for what aging can do to your mind and body. While we all want to remain young and spry forever, being blindsided by sudden health changes in your later years can create sudden financial stress and strife. Long-term care insurance in Boca Raton can help to protect you and your future, ensuring you get the best care possible if ever you need it. 

What is Long-Term Care Insurance? 

Like any form of insurance coverage, long-term care insurance policies in Boca Raton are designed to protect you in case of an emergency. Car insurance protects you from sudden expenses associated with car accidents or vehicle damage; medical insurance helps to cover costs accrued due to injury, sudden illness, or chronic illness.  

Long-term care insurance picks up where medical insurance often falls short. It covers the costs of personal care made necessary by an accident, injury, cognitive impairment or frailty from advancing age. This includes in-home services, medical care costs, and other necessary services for maintain your quality of life. With the estimated cost of assistance with daily living between $50,000 and $100,000 per year, long-term care insurance is a wise investment that can spare your saving from depletion. 

Who Needs Long-Term Care Insurance? 

It’s never too early to start preparing for your future, including contingency plans for all potentialities. While someone in their 20s or 30s may not yet be planning that far into the future, it is something everyone should consider. But who should consider getting long-term care insurance in Boca Raton? 

Older Adults Though life-altering health events can happen at any time, older adults are more susceptible to these changes. Advanced age can affect one’s mobility, ability to heal, and cognition. Long-term care insurance provides coverage for in-home assistance and medical care, allowing for a greater sense of independence and comfort. It also covers assisted living facility care, should you choose it. 

Parents and Grandparents One of the great advantages of long-term care insurance policies in Boca Raton is the peace of mind of knowing your care is covered if needed. For parents and grandparents, this helps to lessen the financial burden that often falls to children who have lives and responsibilities of their own. Taking control of your future care needs through long-term care insurance puts all the decision making in your hands—or those of someone you trust.  

Married Couples Along the same line of thought for parents and grandparents, married couples should consider long-term care policies in Boca Raton to mitigate costs for either or both partners. These policies can also be combined with life insurance plans, to ensure the people you love are taken care of in all potentialities.  

People with a Family History of Dementia or Other Later Life Conditions While genetic pre-disposition isn’t something we often think about until they manifest in our lives, planning ahead can make it easier to focus on what matters. For people with certain health conditions within the family, planning ahead is a good idea. Even if it’s something that seems to “skip a generation” or only occurs on one side of your family, it’s always better to be safe. 

With the Center for Long-Term Care Planning, we can help walk you through the entire process, including exploring your coverage options. Contact us now for more information!