A long term care policy can make sure you have the help you want and care you need when you need it most. Long-term care is defined as convalescent or in-home care for an indefinite period of time including custodial care, supervision, or even long-term medical care for the elderly or disabled. Long-term care insurance provides the means to get the care you need for an extended period of time, whether the care is provided in your home or a nursing home.
The goal of long-term care services is to help you maximize your independence and functioning at a time when you are unable to be fully independent. Long-term care is needed when you have a chronic illness or disability that causes you to need assistance with Activities of Daily Living. Your illness or disability could include a problem with memory loss, confusion, or disorientation. (This is called Cognitive Impairment and can result from conditions such as Alzheimer’s disease.)
By 2020, it is expected that 12 million people will need long-term care services in the United States. While the majority of people who need long-term care are age 65 or older, a person can need long-term care services at any age. Forty (40) percent of people currently receiving long-term care are adults 18 to 64 years old.
About 70 percent of individuals over age 65 will require at least some type of long-term care services during their lifetime and over 40 percent will need care in a nursing home for some period of time.
Long-term care can become a reality for anyone at any age.
Having long-term care insurance will ease this great financial burden if and when long term care is needed.
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