Premiums: If Relative Had Alzheimer’s, Long-Term Care Insurance Should Be a Must

By Steve Elliott | October 18, 2021 | Comments Off on Premiums: If Relative Had Alzheimer’s, Long-Term Care Insurance Should Be a Must

Although you may not be considering long-term care insurance at this stage in your life, if there is a family history of dementia, which includes Alzheimer’s, this is something you should seriously consider. Most people don’t even look into long-term care insurance premiums as an option until they are well into their 50’s, maybe even approaching 60. However, the best time to look into it is by the time you are 55. Yet, if you have a family history of serious health issues, including Alzheimer’s, the sooner you begin looking into a long-term care insurance policy, the better it’s going to be for you and your spouse or other dependents.

Why consider paying long-term care insurance premiums?

Long-Term Care Insurance Premiums Rancho Penasquitos CA - Premiums: If Relative Had Alzheimer’s, Long-Term Care Insurance Should Be a Must

Long-Term Care Insurance Premiums Rancho Penasquitos CA – Premiums: If Relative Had Alzheimer’s, Long-Term Care Insurance Should Be a Must

Do you have any idea what the cost of certain long-term care is right now? You might only require home care assistance at some point in the future. That may only last for several months. But, what if you eventually are diagnosed with Alzheimer’s or another type of dementia?

You will likely need home care assistance for several years. What if that’s not enough, though? What if you had to spend time in a nursing home?

Depending on the support you have around you in those later years, spending time in a nursing home might very well be realistic. If you have significant health issues and other related challenges, spending many months or even years in a nursing home could be something you have to deal with.

How much does that cost?

Most people actually have no idea how much a nursing home would cost for an entire year. In some states, it might cost $65,000 or $85,000. In other states, you could be looking at a price tag of $300,000 or more.

Consider these numbers are current, not what may happen in 10, 20, or 30 years when you might need to spend time in long-term care. With inflation, supply and demand economics factored in, and more, that cost could be significantly higher.

Many people, at this point in the game, would look at $300,000 for single year of nursing home care and feel the life draining from them. It is staggering.

Now, do you see why long-term care insurance could be so vital?

What if you never develop Alzheimer’s?

That is our first and sincere hope for everyone who may have a family history of Alzheimer’s or other types of dementia: that you never have to deal with it personally. Even if you don’t, there may be some health issues or other factors that may require you or your spouse or other dependent to rely on home care assistance or other types of long-term care.

Injuries, heart attack or stroke, pneumonia, major surgery, other illnesses, and so forth are all possible as you get older. If you don’t have to pay for those long-term care services out-of-pocket, that means the money you worked so hard for all of your life will still be there for you when you want it. That’s the key.

If you or a loved-one are considering Long-Term Care Insurance Premiums in Rancho Penasquitos CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.

Steve Elliott
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