Neil Cavuto and Ann Romney have multiple sclerosis and may need Long Term Care in the future .
Although seniors are definitely concerned about the need for long-term care it is not high on the list of concerns. It is human nature not to worry about an event until it happens.
Concerns seniors have (Do you?):
Remaining independent in the home without intervention from others. Maintaining good health and receiving adequate health care. Having enough money for everyday needs and not outliving assets and income
Although seniors are definitely concerned about the need for long-term care it is not high on the list of concerns. It is human nature not to worry about an event until it happens. Certainly everyone is concerned about having his house burn down or having an accident or getting an illness or ending up in the hospital or needing long-term care, but these things are typically beyond our control and we can't sit around and worry about them. But people do plan for the risk of loss and typically have set money aside or bought insurance or prepared written documents to cover the unexpected.
For seniors the need for long-term care is probably the most catastrophic unexpected event that could happen. This is because the need for long-term care typically removes any level of security a senior person may have with the three major lifestyle concerns mentioned above.
No one knows why people beyond age 65 are not more concerned about preparing for long-term care. Perhaps they have seen it in their family or among friends and seen the effect that it has.
Because of the unsavory aspect of receiving long-term care, perhaps seniors prefer to ignore it rather than embrace the need for it. Perhaps they mistakenly think the government will take care of them. Or they are assured that family and friends will provide the care when needed, but don't know how difficult it really is for loved ones to provide that care when the time actually comes.
Whatever the case, without proper planning, the need for long-term care can result in the single greatest crisis in an elderly person's life.
This lack of planning will always have an adverse effect on the older person's family. It usually results in great sacrifice or financial cost on the part of the spouse or children. Or for those with no immediate family, long-term care can be a burden to extended family members.
Contact Mintco Financial and review which options you have about Long Term Care.
Mintco Financial Team has helped thousands of seniors to achieve peace of mind regarding their long term care.
Call us now for a complimentary review of your situation.
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