Long-Term Care Insurance...Necessary or Not ??
Well I have found out Long-Term care insurance is a blessing..and I am not sure how many people even think about it.
Since my Mother has dementia and is 88 years old and I have had to now move her to a lock down facility...which is a place where she can't wonder away from..it is a blessing that my father was thinking ahead and provied this insurance.
It covers her expenses now that she is in need of special care.
There are many different plans and types of coverage which means many different prices available. We all think it is too far away to worry about...but it is too late when you are ill and old to get covered.
My dad paid for years into this and they re-imburse me nearly all the money it costs for her care. There are all sorts of plans and a third party is named so in case someone forgets to pay the premium the 3rd party is contacted. This happened to me and we just barely got it paid in time.
I am passing this on so that maybe someone will want to cover themselves for the sake of their children when they become responsible for your care. Which is how it happened to me. I am so thankful.
The way my dad set it up she has enough money to last for the next 12 years and after that we go to medicaid. There is no way I could have done this on my own. I would love to get some for myself now to help protect my children...but I can't afford it at this time in my life.
So if you can...ask your insurance agent about it and check into it.
www.planaheadny.com is one place you can check into.