Term Life Insurance Articles
November Is Long-term Care Awareness Month
2009-11-23
While many people are aware of the eventual need for long-term care, the majority have not planned and prepared for it. Furthermore, there are many misunderstandings as to what long-term care is, who needs it and how it's paid for. Due to the majority being uninformed, November has been declared as Long-Term Care Awareness Month in order to promote and educate the public about the need for long-term care and early planning. Long-term care is often misunderstood as nothing more than nursing home care for the elderly who can no longer take care of themselves. This misconception quite often leads to a lack of early planning which leads to expensive costs burdening the family.
Long-term care is often necessary for many reasons. It may be only temporary for several weeks, or ongoing for several years. Care may be needed temporarily due to an illness, injury or surgery while in recovery. Ongoing care may be needed due to permanent disabilities, dementia, chronic medical conditions, or needing help with activities of daily living. Whatever the reason, there are many options for care facilities. There may be times when nursing home care is required, however oftentimes services can be provided in assisted living facilities, adult day services, family members' homes or in the client's own home. Long-term care is provided based on the specific needs of the client and can include assistance with basic mobility, dressing and hygiene, meals, laundry, basic housekeeping, yard maintenance, shopping and running errands. It also can include transportation, medication and medical care, physical therapy, managing money and bills, and prevention of wandering and unsafe behaviors.
These necessary and costly services are often not covered by private health insurance or Medicare. Without prior planning, out-of-pocket expenses can quickly become a burden on the entire family, and clients may not be able to receive all the care and services they need. By planning ahead, much of the costs can be covered with a life insurance policy. Term life insurance is different than other forms of life insurance. A term life insurance policy is valid for a specified period of time, generally between five and 20 years. This type of life insurance policy is less expensive, making it valuable to those on a limited budget. However, the cost of term life insurance increases with age and declining health.
The need for long-term care can often come about unexpectedly and sudden. Whether temporary or ongoing, 70 percent of people over the age of 65 will need long-term care at some point. Preplanning early on is essential in order to obtain the best policy rate and ensure that the services are available and affordable when long-term care is needed.
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While many people are aware of the eventual need for long-term care, the majority have not planned and prepared for it. Furthermore, there are many misunderstandings as to what long-term care is, who needs it and how it's paid for. Due to the majority being uninformed, November has been declared as Long-Term Care Awareness Month in order to promote and educate the public about the need for long-term care and early planning. Long-term care is often misunderstood as nothing more than nursing home care for the elderly who can no longer take care of themselves. This misconception quite often leads to a lack of early planning which leads to expensive costs burdening the family.
Long-term care is often necessary for many reasons. It may be only temporary for several weeks, or ongoing for several years. Care may be needed temporarily due to an illness, injury or surgery while in recovery. Ongoing care may be needed due to permanent disabilities, dementia, chronic medical conditions, or needing help with activities of daily living. Whatever the reason, there are many options for care facilities. There may be times when nursing home care is required, however oftentimes services can be provided in assisted living facilities, adult day services, family members' homes or in the client's own home. Long-term care is provided based on the specific needs of the client and can include assistance with basic mobility, dressing and hygiene, meals, laundry, basic housekeeping, yard maintenance, shopping and running errands. It also can include transportation, medication and medical care, physical therapy, managing money and bills, and prevention of wandering and unsafe behaviors.
These necessary and costly services are often not covered by private health insurance or Medicare. Without prior planning, out-of-pocket expenses can quickly become a burden on the entire family, and clients may not be able to receive all the care and services they need. By planning ahead, much of the costs can be covered with a life insurance policy. Term life insurance is different than other forms of life insurance. A term life insurance policy is valid for a specified period of time, generally between five and 20 years. This type of life insurance policy is less expensive, making it valuable to those on a limited budget. However, the cost of term life insurance increases with age and declining health.
The need for long-term care can often come about unexpectedly and sudden. Whether temporary or ongoing, 70 percent of people over the age of 65 will need long-term care at some point. Preplanning early on is essential in order to obtain the best policy rate and ensure that the services are available and affordable when long-term care is needed.
