It’s not fun to think about, but there could come a time in your life when you need help with some of the regular activities of daily living. This includes actions such as eating, dressing, bathing and using the bathroom. Your need could be caused by any number of conditions, including illness, injury, dementia or Parkinson’s disease. When you do need assistance with these daily activities, Medicare will not pay for the added help because these needs are considered non-medical. That’s why it’s so important that you have some sort of insurance that will provide benefits that pay for your long-term care (LTC) needs.
This month is Long-Term Care Awareness month, so we’re going to talk about some of the basic information you need to know about LTC policies as well as some of the alternatives you can explore to find the right LTC protection for your individual financial plan.
- We’ll start the month off with a post about saving money on long-term care premiums.
- Later on in the month, we’ll give you an overview of some of the most important LTC policy terms you need to familiarize yourself.
- We’ll also take some time to talk about ways you can use a life insurance policy and/or an annuity for your long-term care planning.
- If you’re caring for an aging loved one, you might want to stop by the Financing Your Life blog to get some tips on how to manage caring for both your loved one and yourself.
We won’t be the only blog out there talking about LTC this month. If you read other helpful articles that you think our readers would benefit from, be sure to share links in the comments below or on our Facebook page. You can also share stories of you or a loved one dealing with LTC care and insurance.