Mom needed help with life activities – What do kids now say?
Posted: April 7, 2011 Filed under: Uncategorized Leave a commentA recent survey of individuals 46 to 64 of age found those whose parent needed help with day to day life activities now recognize the value of Long Term Care insurance:
+ 87% of the participants said it helps protect family members from having to pay for help.
+ 85% said it provides family members with peace of mind.
+ 84% said it means retirement savings can stay intact.
+ 70% said it helps with the ability to leave an inheritance.
However, even though the chance of needing assistance is more than 70%, individuals of this age have not purchased this special and very important kind of protection. Why? An analysis indicates perhaps they:
+ Don’t fully understand how long term care financing works.
+ Don’t understand the importance of early planning for this need.
The survey also found a majority mistakenly thought government funding would be available to pay for their needed assistance.
