Mistakes To Avoid When Considering Long-term Care
Thinking about your long-term care planning can be overwhelming but there are a few things that might help. Trying to avoid the mistakes many people tend to make will help things feel a lot less complicated!
1. The “it won’t happen to me” or “I still have plenty of time” attitude!
No one wants to believe or expects they may need long-term care in the future, but if care is needed, the consequences to your family and finances can be devastating. The only time that’s too late to consider long-term care protection is once you need it. Don’t wait until that time to decide to plan for your future, or more accurately, have the opportunity to plan taken from you.
2. Believing someone else will pay for your long-term care.
Government programs generally do not pay for long-term care, and the ones that do, pay a very limited amount. So, it is YOUR responsibility to plan and protect yourself.
3. Buying long-term care insurance from an uneducated agent.
This is a big purchase, so you want someone who knows the ins and outs to guide you through the process. Find someone who is knowledgeable in the field, can help you determine the best company for you based on your needs, goals and finances, and who can explain everything to you along the way.
There are many subtle variations between policies that can make a huge difference when you have a claim. For example: most policies will pay only licensed caregivers, some allow you to pay neighbors or friends, some let you pay family members. We’ll help you determine what the best fit is for your needs and your finances.
Long term care insurance is not for everyone-we’ll help you determine if it’s right for you.