A Plain English Guide to Long Term Care Insurance.
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Protect Your Financial Legacy & Live with Dignity in Your Twilight years.
What are your plans for your final years? What happens if you need long-term care? Is your family going to house you and take care of your medical needs? If you answered yes, how certain are you?
What will happen in the event of a stroke or other accident where you're no longer to take care of yourself? Will the house need to be sold? Will you need to cash out your retirement savings? Would you like to leave your lifetime of financial assets to your children or to a charity? Long term care is there to protect your assets, the financial house, you spent a lifetime building.
Long term care insurance isn't only important for protecting your assets, e.g. your home and your life savings, it's also about having dignity and choices in the twilight of your life. Many long term care policies will cover in-home treatment, some will even train a family member to take care of you in the comfort of your home. Also, the quality of care received from non-medicare funded long-term care facilities is frequently much higher.
Along with long-term care, it's a good idea to also make sure you have a will, living will, advance directives, and a healthcare power of attorney.
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