#1 Not wanting to be a burden to our children, our spouse, or relatives.
Love is shown in many ways. One of the best ways to show it is by making sure that the financial and physical burden of being cared for does not fall on our loved ones.
#2 Access to Quality Care
The cost of being cared for is extremely expensive. Unless you have huge cash reserves, long term care insurance is the only realistic way of paying for care without going broke and ending up in a nursing home.
Remember. After the age of 60, there is a 70% likelihood that you will need long term care.
#3 Aversion to Welfare
Most of us have worked hard all of our lives and expect to remain in our homes when we get older. Unfortunately, for millions of Americans, the government is now their caretaker because the high cost of health care has depleted their assets.
#4 Asset Protection
It is sad how many people lose everything they have worked for when they get older and need long term care. Many people still think the government will take care of them, but they don’t realize that it will probably be in a nursing home and they will have had to spend their entire life savings to get to a place they don’t want to be.
#5 Control and Independence
There are many important decisions that have to be made about our living space and healthcare as we grow older. If you are like me, you want to remain in your own home. Long term care insurance can help insure that you have many favorable options available to you, including assisted living and in home care.
#6 Peace of Mind
For those who have already purchased a long term care policy from a reputable company, they would tell you that it is a huge relief to know that they have this important coverage.
