The Benefits of Long-term Care Insurance

 

As we grow older, we start to think more and more about “what if” this or that happens. Many of us worry about getting a disease or disability that could make it difficult for us to care for ourselves, and many worry about having the financial means to get the long-term care we may eventually need.

Financial advisors say one way to give ourselves peace of mind is to purchase Long-term Care insurance (LTC). While a LTC policy can be expensive, experts say you need to remember that trying to pay for long-term care can jeopardize your financial wellbeing as well as that of your spouse, children and even grandchildren. Many of us have worked our entire lives to provide our families with financial security and would hate the thought of them shouldering the economic and personal responsibilities related to our long-term care.

The AARP says everyone should have a plan for long-term care, and as we are living longer than ever before, at some point we may need help with our day-to-day care. As many LTC insurance policies cover some of the expenses your regular health insurance does not, it is easier to “maintain your lifestyle if age, injury, illness, or a cognitive impairment makes it challenging for you to take care of yourself.” Buying a LTC policy is also a good idea for those who do not have family members or others to care for them in the event of changing circumstances.

If you are looking for the finest memory care or assisted living Beaverton Oregon offers, we encourage you to consider MorningStar of Beaverton. While we work hard to make our community affordable, we also help potential residents to find creative ways to help pay for senior living. Long-term care insurance can help pay for senior care and protect personal assets by covering a variety of services in senior living communities. Please visit our website for more information. 

 

MorningStar of Beaverton’s mission statement of “to honor, to serve, to invest” sets us apart from other senior living communities. We have built a foundation on honoring God, valuing our seniors and selecting staff with a felt calling to serve. Set in a warm, loving atmosphere with beautiful surroundings and resort-style amenities, we provide the finest memory care and assisted living Beaverton Oregon has to offer.

Source: nylaarp.com/Landing-Pages/LongTermCare