Wednesday, June 6, 2001

Long-term care the time to plan is now

Preparing for a long trip should include planning for the unexpected. We plan ahead because we want to make sure the trip is pleasant and as stress-free as possible.

But I'm not talking about getting your car ready for a road trip. I'm talking about taking care of yourself and your family.

I'm talking about preparing for unexpected expenses should you ever need in-home care, nursing home care or other such assistance.

When planning for the future, we all want to be prepared. That is why it is so important to consider insurance coverage for these possibilities.

What is it?

Long-term care is the assistance you may need if you are no longer able to care for yourself. This is often the case with people who need help in activities of daily living, such as bathing, eating or dressing.

A person may require in-home care or stays at assisted living facilities or at nursing homes. Long-term care insurance provides financial help for those costs, which are substantial.

Who will need it?

According to the Duke University Long-Term Care Resources Program, 20 percent of people who are 65 or older will need some form of long-term care during their lifetime.

Who will pay?

There is a common misconception that Medicare or health insurance will pay for the costs of long-term care. But they often don't cover these expenses.

Many turn to their families for financial help, but with the rising costs of long-term care, your children or spouse could find themselves in a difficult financial situation.

Long-term care insurance can be tailored to an individual's needs.

Although it's an uncomfortable subject, it's important to talk to your loved ones about the financial resources you have available should long-term care needs ever arise.

A conversation with your insurance agent will help you learn more about the details, including the cost of long-term care insurance, and how it can protect you and your family.

Clay Van Meter is a State Farm Insurance agent in Peachtree City. He can be reached at 770-487-5060.

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