LONG TERM CARE (LTC)
How do you react in an emergency? Do you approach the emergency at hand calmly and intently, or are rash decisions your go to move? What is the fallout of choices made?
Many businesses have a disaster recovery plan in place during emergencies, and having a Long Term Care (LTC) insurance plan in place will help you and your family during a crisis in the same way.
LTC was in the news daily during the height of the epidemic. Leading the news each night was the number of COVID deaths in nursing homes around the country. If you didn’t want to end up in a nursing home then, you sure don’t want to now. A recent survey found that 61% would rather die than live in a nursing home. The images of family members barred from visiting their loved ones, or worse, people dying alone, no loved one by their side in their final moments, was soul-crushing.
A properly funded Long Term Care insurance plan (LTC) can provide options and the ability to stay in your own home. The problem is that most people don’t create a plan. Yes, creating a plan can be daunting, but a plan is essential to avoid making rash decisions during a health crisis.
During a crisis most people do not use logic, it is a fight or flight response to the risk. Disagree? Don’t think we make emotional and irrational decisions during an emergency? Then please explain the run on toilet paper?
A Long Term Care plan will help avoid rash decisions, logic will prevail. Acting today, you can plan where you wish to receive care, and purchasing coverage while healthy guarantees lower premium rates.
Today, 12 million individuals require long term care in America. In 8 years the number will be 24 million! There is a shortage of long term care workers today, and the shortage will be considerably worse by 2030. Purchasing a Long Term Care policy today will help pay for care when demand for such care is at its highest.
A LTC policy is a written strategy for your family on how to cope in a health crisis. There is a tsunami coming, an aging population tsunami. Now that you know a crisis is on the way, the remaining question is how will you prepare for it?