Family history is one factor that can increase the risk of developing certain health issues, which might include dementia. Alzheimer’s is a form of dementia and if there is any history of this in your family, you will likely be at an increased risk of developing this disease, too. If that’s the case, you may at some point in time require long-term care.
Perhaps you’ve already gone through this with the parent or grandparent. You might have been one of their primary caregivers, but eventually things became too much for you and their spouse or other people in the family to handle. So, what happened next?
If your family is like most in the United States, that senior would have required some type of memory care support. Assisted living is a valuable option for many seniors who have been diagnosed with dementia. Some may be required to move into a nursing home, depending on their health and other factors. Still others prefer to remain home, which is certainly possible with the right experienced home care support.
All of these options can be expensive.
It’s easy to discount the cost of long-term care, especially when you don’t need it right now. However, if you are in your 50’s or early 60’s and there is any type of family history of dementia, it’s time you took a serious evaluation about your financial circumstances.
Could you afford to pay over a hundred thousand dollars each year for long-term care? If you live in Alaska, for example, a nursing home facility (not even a private room) could run you upwards of $300,000 or more, each year.
The cost is staggering. Home care cost is the most affordable option, but a person diagnosed with dementia may require around-the-clock, live in care, which will be even more than a basic home care aide for 40 hours a week. Could you afford that for three, four, or even five years?
Most people can’t, and if they don’t consider how long-term care costs might impact them in the future, especially if they are at an increased risk of developing certain conditions, which might include Alzheimer’s or another type of dementia, they could be setting themselves and their family up for financial ruin.
Now is the time to consider long-term care insurance.
The older you are, the more likely you may be denied long-term care insurance because of some pre-existing condition or other risk factors. If there is a history of dementia in your family, no matter how well you take care of yourself or stay mentally engaged, there is an increased risk you or somebody you care about might develop it.
That’s just one reason why it’s so important to consider long-term care insurance now.
If you or a loved-one are considering Long-Term Care Insurance Cost in Whittier CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
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