When Should You Buy Long-Term Care Insurance For A Senior Parent?

By Steve Elliott | October 7, 2024 | Comments Off on When Should You Buy Long-Term Care Insurance For A Senior Parent?

Now is the time to learn more about long-term care insurance if you have a senior parent. According to research almost 30% of U.S adults over the age of 60 live alone, and more seniors than ever want to stay at home as they get older. Long-term care insurance can help your mom or dad pay for the extra help they need to live comfortably and safely at home. It helps cover the cost of services that aren’t usually included in regular health insurance or Medicare. Getting a long-term care insurance quote would be part of the process in looking into such a policy.

When to Buy an Insurance Policy for Your Parent

Long-Term Care Insurance Quote San Diego CA - When Should You Buy Long-Term Care Insurance For A Senior Parent?

Long-Term Care Insurance Quote San Diego CA – When Should You Buy Long-Term Care Insurance For A Senior Parent?

The best time to think about buying long-term care insurance for your parent is before they need it. While no one can predict exactly when they might need help with daily activities, planning is key. Now is a great time to learn more about long-term care insurance and buy a policy for your mom or dad.

Most people recommend buying long-term care insurance for a senior parent when their parent is between the ages of 60 and 65. The younger and healthier your parent is when they apply, the lower the cost of the premiums. If you wait too long, your parent may develop health conditions that make it harder to qualify for coverage or make the insurance much more expensive.

It’s also a good idea to think about your senior parent’s current health and lifestyle. Are they active and healthy, or do they have any health conditions that could get worse over time? If they are starting to experience health problems, you might want to look into long-term care insurance sooner rather than later.

What Long-Term Care Insurance Covers

Long-term care insurance helps pay for services that regular health insurance doesn’t cover. These services are necessary when your mom or dad can no longer perform basic daily activities without help.

These activities, often called “activities of daily living” (ADLs), include:

  • Bathing: Need assistance getting in and out of the shower or bath.
  • Dressing: Help with putting on clothes.
  • Eating: Assistance with feeding.
  • Using the bathroom: Needing help using the toilet or maintaining personal hygiene.
  • Transferring: Moving from a bed to a chair or vice versa.
  • Continence: Managing bladder or bowel control.

If your parent can’t do at least two of these tasks on their own, long-term care insurance would kick in to cover the costs. This coverage can apply to services provided at home so that your senior parent can continue living in their own house if they want.

In addition to helping with ADLs, long-term care insurance may also cover skilled nursing care, which is medical care provided by licensed nurses or therapists. For example, if your parent needs physical therapy or wound care, LTCI can help pay for those services, depending on the policy you choose.
Talk to your mom or dad about long-term insurance now. Even if they are already having trouble with ADLs and need assistance it’s not too late to get long-term care insurance to make paying for home care assistance easier.

Source: https://www.pewresearch.org/short-reads/2020/03/10/older-people-are-more-likely-to-live-alone-in-the-u-s-than-elsewhere-in-the-world/

If you or a loved one are considering a Long-Term Care Insurance Quote in San Diego CA, please get in touch with Steve Elliott at Capstone Insurance for an honest discussion about your future and options. Call today at (858) 350-3161.

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