Is there a family history of Alzheimer’s or another type of dementia in your life? Are you not certain? Maybe nobody in your immediate family has been diagnosed or dealt with this directly, at least so far as you know. While family history can certainly increase the risk factors, it’s not the only issue at play. There could be numerous factors that cause a person to develop Alzheimer’s or some other type of dementia.
If you have no idea the emotional or even financial impact dementia can have on individuals and families, you may not fully appreciate the value long-term care insurance can offer.
A person diagnosed with Alzheimer’s will need help.
Sure, that individual might be married and his or her spouse is more than willing to step up and provide whatever support and assistance is required, but as the disease progresses the challenges will also increase. It can reach a point where that spouse, adult children, friends, and even neighbors are facing daily verbal and physical abuse, accusations, and a host of other overwhelming struggles.
Hiring home care is a great option, but more often than not assisted living and possibly even nursing home care becomes essential. Not only will Alzheimer’s erode memory and mental function, it will begin impacting physical capabilities.
Do you know the cost of long-term care?
Did you know that a full-time home care aide (an individual who can assist with bathing, toileting, getting dressed, meal preparation, and even mobility) could cost upwards of $45,000 per year, on a national average? Did you realize that assisted living can cost $75,000 per year, on average? Or that nursing home care exceeds $85,000 in many regions across the country?
If you or somebody in your family is soon diagnosed with Alzheimer’s or another type of dementia, would you be able to afford that level of support and care? Perhaps your retirement savings would be enough, but more and more people unfortunately realize too late that it completely wipes out everything they saved through 40+ years of hard work in their career.
Long-term care insurance can protect you.
Most policies from long-term care insurance companies will be for a limited number of years (such as three), but even those years of costs essentially covered by a good policy can protect your savings and retirement portfolio, including that house that you completely paid off before you quit working. It can offer peace of mind to individuals and families who already have enough to contend with as somebody they care about, somebody they love is facing the long, difficult journey of dementia.
If you or a loved-one are considering Long-Term Care Insurance Companies in San Marcos CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
I work with all the major insurance companies and my objective is to help my clients determine if long term care protection makes sense for them and if so, to help them shop the market to find the best company at the best rate
I specialize in Traditional Long Term Care Insurance as well as Hybrid Long Term Care Plans which are either a combination of Life Insurance and Long Term Care or an Annuity Plan with Long Term Care
I’ve been specializing exclusively in Long-Term Care Insurance Planning for over 21 years.
Steve was recognized as a 2003 Long Term Care Expert of the Year at The National Long Term Care Producers Summit
2006 was awarded Senior Market Advisor of the Year Finalist by Senior Market Advisor Magazine
National Speaker for Numerous Industry Meetings
Awarded Nations Top 10 Agent 8 times by the American Association of Long Term Care Insurance
Author of numerous published articles on long term care planning