Is Long-Term-Care Planning Necessary?

— Last Updated May 27, 2022

Is Long-Term-Care Planning Necessary?

In this article

— Last Updated May 27, 2022

Read Time
3 mins
time-icon.png
Reviewed by
Policy Solver
Group-27.png

Is Long-Term-Care Planning Necessary?

Eric Berkman

Licensed Life & Health Insurance Agent

Read Time

3 mins
Group-27.png

Reviewed by

Policy Solver

In this article

LTC Planning 2022   In one word – absolutely. My mother and father didn’t have a plan. They had some luck and some money, but they didn’t truly have a plan. When you don’t have a plan you get caught off guard, you get put in a difficult position, and you don’t have a good path forward. You have to scramble. Long-term-care planning is incredibly important. Here are the top 10 reasons why I think making a plan for your long-term-care is absolutely necessary.
  1. 70% of people 65 and older will experience a long-term-care event. That’s a big majority of the population, so the chances are pretty good that if you’re reading this, you’re going to have a situation in your life where you’ll need help taking care of various activities of daily living (ADLs) in your life. Having a long-term-care plan can help you be ready.
 
  1. If you have a long-term-care plan in place, then you’ll be able to make sure you can pay for the plan. The costs of care are continuing to rise, so unless you make a long-term-care plan, including how you’ll pay the bills for your care, then you might not be able to get the care you need when you need it.
 
  1. Long-term-care planning allows you to have peace of mind. No one wants to have to scramble when they’re back’s up against the wall. Thinking and talking to your loved one’s about a long-term-care plan before an event occurs is the best way to create peace of mind.
 
  1. There are so many variables you need to consider, so making a long-term-care plan is something that will take a lot of time, research, conversations with family & friends, and you’ll want to seek the expert help from licensed long term care insurance agent. Without a plan, you’ll be riding shotgun.
 
  1. You make plans for retirement, saving for college, for buying a home, or other far-off needs and wants. Making a plan for your future long-term-care should be no different. In fact, the sooner you start to make a plan, the better off you’ll be so you can have things ready for when you need to execute on that plan.
 
  1. Long-term-care planning isn’t easy. Let’s face it – thinking about being older and unable to take care of yourself like you once were, isn’t something we want to think about. It’s not pleasant, but it’s necessary because in order to have the right plan in place, it will be a lot of work to get things put together. The sooner you start, the better chance you have at having a good plan before you need it.
 
  1. If you’re considering long-term-care insurance as part of your long-term-care planning, then the sooner you look into it, and the sooner you talk to an agent to understand policy options, coverage considerations, and costs, the sooner you can get that piece of your long-term care planning in place. And it’ll also save you money over the long haul.
 
  1. Putting a long-term-care plan in place can help reduce stress and burden on your family and friends. We all have people in our lives who care about us, but noone really wants to have to burden those loved ones when it comes to caring needs. It creates stress, strain on relationships, and also can drain nest eggs pretty quickly if there isn’t the right plan in place. So, if you don’t want to do it for yourself, then think of your loved ones and start making a long-term-care plan today!
 
  1. It just feels good to check the box on important things. If you have things to protect in your life, then it’s important to make sure your ducks are in a row. As we do with certain life stages, we think about things that we need to do to take care of those we love, and help protect them, and ourselves. We get life insurance when we get married. We increase that life insurance when we have a child. We start saving for the college fund. We put aside money for that tropical vacation in a year. Those things feel good to us because it’s doing the right thing for our loved ones and ourselves. Making a long-term-care plan is no different. It should be part of our bigger life plan.
 
  1. And, finally… we all want to age with dignity and know we’ll be as comfortable as possible when the time comes where we’ll need a hand taking care of ourselves. Unless we take the time to make a long-term-care plan, then we might not be in control when the time comes for long-term-care. We might not have a choice. Making a long-term-care plan allows us to be in control and decide what we want to do. Planning ahead can put you in the driver’s seat.
  Let’s talk! If you need advice on long-term care planning, feel free to contact me or schedule a free consultation, and I will get back to you soon!

January 14, 2022

Related Articles

Long term care insurance quote If you’re looking for a long term care insurance quote, then it’s important to know what will be involved

Best long term care insurance for seniors So, what is the best long term care insurance for seniors?   In this article we’ll review some

What does long term care insurance cost in 2022? I get it. The question is  extremely relevant.  What does long term care insurance cost? 

Where are you in your Life Insurance planning?

Life insurance will help you protect those you love and count on you for providing financial support, in the event you pass away. We’ll help you find the right policy, with the best coverage and best rates.

Where are you in your Medicare insurance planning?

Medicare insurance will help get  the healthcare you will need when you turn 65.  We’ll help get you enrolled and get you the best rates and coverage you’ll need on a Supplemental Medicare to make sure you’re fully covered.

Where are you in your long term care planning?

Long Term Care Insurance will help protect your savings, while enabling you to get the care you need when you need it. We’ll help get you the best rates and the coverage you need.

Where are you in your disability
insurance planning?

Disability Insurance will help protect you from the loss of income if you become sick or unable to work for an extended period of time.  We’ll help get you the best rates and the coverage you need.

Select Insurance Type

Select a Calculator