Who Will Care For You When Your Health Changes?
Do you remember Ozzie and Harriet from the fifties? How about Leave it to Beaver? What did June Cleavers and Harriet both wear? Dress, heels, apron and pearl necklace. What did she do during the days when husband was at work and children in school?
She had the time, space, and energy to have parents or in-laws move in when they needed care in older ages. That’s what we did in the fifties. It was expected. How many of your children wear dresses, heels, aprons and pearl necklaces while flitting around a large home with the time, energy and space to take care of you? Its a lot tougher with both husbands and wives working, the kids in soccer, band, karate, dance lessons and two minivans needed to shuttle them around. Which of your children really has the time, space and income to be able to retire and take care of you?
One fifth of baby boomers are childless. For some, the children may need care before the parents do. 40% of all long term care done in America is for people between the ages of 18 and 64. Will your nephew take charge and care for you? Yet, boomers and their elders indulge in a rather startling lack of planning for their care needs in old age. They believe someone will be there to provide care when needed, but who?
Gerontologist Larry Weiss, founder of Reno’s Center for Healthy Aging, helped care for his mother until her recent death at age 90 in Marin County. But he doesn’t have children, and he’s divorced, leaving him to wonder what old age will bring to him.
Read more here: http://www.sacbee.com/2012/11/10/4975282/childless-boomers-wonder-who-will.html#storylink=cpy
Even among those who do worry about this, few have taken action to even investigate Long Term Care insurance. They think it is something they can address later. One problem is that when they decide to investigate LTC insurance, many will no longer be eligible to purchase it. By age 60 a third of us cannot. It’s not the things like heart attack or cancer that cause us to be uninsureable, its a bad knee, diabetes, asthma, or bone density. Things that have the potential for us to need care years later. Once diagnosed its too late to buy coverage.
So, when should you investigate LTC insurance for yourself? While you are still healthy enough to eligible for coverage. I recently visited with a couple who put off investigating for several years. When he did not feel well recently and went to the doctor for a diagnosis of COPD, he was suddenly uninsurable – too late now.
If it is perhaps time for you to investigate what you might do to plan for your long term care (insurance is not the only answer) call Romeo Raabe at The Long Term Care Guy at (920) 884-3030 or (800) 219-9203 to schedule a meeting.
