Long-term care events happen to a family, not just a person. As people live longer and healthcare expenses continue to rise, the need for long-term care planning becomes more of a “when” than an “if” situation. By having a long-term care strategy in place earlier, you’ll be better prepared for the tough financial, emotional and administrative decisions you and your loved ones may need to make.
Long-term care is a range of services and support designed to meet your health or personal care needs during a short or long period of time. Most long-term care needs do not relate to medical care aid, but rather assistance with the Activities of Daily Living (ADL) such as:
A long-term care solution may help you cover the costs if you lose your ability to independently perform at least two activities of daily living for at least 90 days or require substantial supervision due to a severe cognitive impairment.
When planning for long-term care, it’s important to consider the costs associated with the type of care you may want, which may vary based on the level of care offered, location and quality of the facility.
1 Inflation protection option; additional cost applies.