Have you ever thought about that situation where your elderly mother may need long-term care? Perhaps she’s already had a health scare for other issue and you supported her. Over time, though, you may have felt the impact of stress and anxiety has had on your life as a direct result of being a family caregiver.
Hopefully that didn’t last too long. Maybe a few weeks or a couple of months, right? What would’ve happened, though, had she needed this level of care for years?
Is that something you would have been able to continue doing? In many cases that stress family caregivers feel begins to affect them acutely and intimately. It affects every aspect of their life, from their relationships to their careers and even their health.
What if your mother needs long-term care in the future?
Are you going to be the person who steps up to support her? Maybe you don’t work. Maybe you’re retired, your spouse is supporting the family, and that’s the way it’s been for a long time. Just because you have that extra time doesn’t mean you won’t feel stress as a primary caregiver.
What if your mother needs more direct medical attention and support with things you simply can’t provide? What if she needs help just getting into and out of the shower and though you don’t have a problem emotionally with that, she does?
Who is going to help her? You may discover at some point in the future she needs more than you can offer. In short, you may need to hire some type of long-term care.
If she doesn’t have long-term care insurance, are you going to be financially responsible for her?
If she can’t afford it and doesn’t have assets that can be converted into cash to pay for long-term care, she may be eligible for Medicaid. However, she would need to use up all of her assets, including her primary residence before Medicaid would kick in.
Will this make you responsible for her expenses? No, not unless you have some type of arrangement where you two are bound together financially. If you or your spouse require long-term care, you would certainly be part of the financial liability for it.
Just because you wouldn’t be responsible for her care, it’s a good idea to plan ahead.
If she doesn’t have long-term care insurance yet, now is an ideal time to see if she would qualify for it and get a quote. The older she is, the more difficult it might be to qualify and the more expensive the monthly premiums will be, but it can still protect her assets, especially if they are significant.
If you or a loved-one are considering Long-Term Care Insurance Quote in Carmel Valley 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