Long Term Care Motivations

The expense of long term care, which can wipe out a life's worth of accumulated savings in a few years, is a strong motivator for reviewing long term care insurance. Our long term care needs can be met by family members, through our own savings, through government assistance, and finally through private long term care insurance.

Purchasing long term care insurance usually involves a set of objections to the other means of care. Many people have their own personal reasons for purchasing private insurance to cover long term care needs. A few of these are outlined below.

Maintain Relational Boundaries

Relationships are different and people have different expectations as to how they want to relate to their spouse, children, and grandchildren. One consideration when weighing the possibility of family members providing services is the idea of your child bathing you or helping you use the restroom. Relationships are different and many people may not feel this is a problem and may have memories of helping with their parents or grandparents. For others, they would never want their child to have to perform these personal services for them.

Avoid Dependence on Family & Friends

Many parents worked to provide every opportunity for their children. The potential of being a drain or anchor on their children's life and dreams is unthinkable. Many people today in their 40's and 50's are part of the 'Sandwich Generation' caring both for their growing children and their aging parents. These years are often the most important and productive in their career and preparation for their own retirement. While many children would welcome their parents into their home for on-going care, as weeks turn into months (perhaps even years) the emotional and financial toll can grow. See our 'Statistics' section for more details on the toll a live-in parent can take on their offspring.

Protect A Life's Worth of Savings

As we reach retirement age, what money we have in savings has taken a lifetime to accumulate. It is a frightening reality that a few years in a nursing home could wipe it out.

Peace of Mind

Especially in cases where there is limited family or community assistance, the peace of mind of knowing your care is covered through private insurance is very comforting.

Avoid Dependence on the Government

The Medicaid program does pay for long term care expenses once a person has depleted their assets on their own care. The purchase of private insurance to cover long term care expenses is a method of protecting assets and maintaining your freedom of choice in where you receive care.

Have Questions?

If at any point you would like to speak with someone for more information,
contact 1-800-258-7041 or fill out our Request Information form!