What would happen if you suffered from a catastrophic illness or were in a serious accident? Like most of us, you think that won’t happen to you. But it can and it does!
In most instances, families are not prepared to deal with a long-term illness or major accident. It’s not something that we want to talk about when we’re sitting down to a family dinner. Well, you should talk about it so that you and your family are prepared in case something does happen.
It’s important to have a plan so you are prepared if you or a family member suffers from a long-term illness, chronic condition or an accident that requires care during an extended period of time.
Although it’s more likely that you’ll need long term care as you age, don’t wait to make this decision. Keep in mind that 45% of people needing long-term care are under the age of 65.
The best time to plan for long term care is before you need it, not when you are in the middle of dealing with this very serious issue. Planning for long term care means:
- Assessing if where you live will accommodate your needs
- Knowing the costs of long term care and the financial implication to your family
- Creating legal instructions to help keep you in charge of decisions about your medical care and finances
When considering how to meet the challenges of that illness or accident, include a plan to cover the costs of care. If something were to happen are you prepared to handle the financial consequences of long-term care? Some people need long-term care for several months as they recuperate, while others need it for years or the remainder of their life.
Don’t wait. Give us a call and let’s talk a long term plan that will work for you and your family and the options that available you. Remember, we here to help!
And, stay tuned for our next blog post: What to consider when looking for Long Term Care insurance.