What is Long-Term Care?
Long-term care is a comprehensive approach to addressing the prolonged need for assistance with daily activities. As individuals age, they may find it challenging to perform basic functions like dressing, eating, or bathing independently. According to the U.S. government’s Administration for Community Living, approximately 70% of individuals aged 65 and above will require some form of long-term care in their lifetime. This underscores the importance of planning for such eventualities.
Why is Long-Term Care Important?
The prospect of needing long-term care isn’t just about the individual; it’s about the family and loved ones too. Without proper planning, the financial and emotional burden of care often falls on family members. Moreover, failing to account for long-term care costs can lead to insufficient funds for the required care, potentially becoming a significant financial strain.
How We Approach Long-Term Care:
Our approach is holistic, considering both the financial and human aspects of long-term care. We begin by understanding your unique situation and needs. We then discuss potential care providers, locations for care, and methods of financing the care. Our team is equipped to guide you through the complexities of long-term care insurance, helping you understand the differences between standalone and hybrid policies, and assisting you in making informed decisions that align with your financial goals and personal preferences.