What folks say about the value of Long Term Care insurance

The month of November has been designated Long Term Care Awareness Month for the last several years. It is however important to prepare for needing on-going assistance and buying this special kind of insurance no mater what time of year it may be.

I believe sharing thoughts from other individuals will help consumers in Connecticut better understand what best be called long term health insurance. Comments on the value of Long Term Care insurance are brought out in four short videos on LifeHappens.org.

First – the value to them in being able to receive the kind of assistance they need and want.

Second  – why they did not want to be a burden on others

Third – why it was important to buy early.

Fourth   –  comments  on the peace of mind they gained from Long Term Care insurance.

What people fear if a life changing illness happens!

Want to share some points from a recent online survey about people’s concerns. Sun Life Financial asked 4,116 full time employees, to describe their greatest concern if a life changing illness were to occur. Their average age was 43 and participants had a median household income of $51,000. The concerns expressed were about:

● The financial impact. 47% said this.

● Dying. 29% said this.

● The emotional impact. 22% expressed this.

People have indicated to me at various times a concern about not having enough money if something where to happen. Thus, I found it very much of interest that almost 50% are reporting this concern.

Since many are concerned the question becomes what can be done to offset it. I believe the most effective and economical solution is for individuals to buy Long Term Care insurance. Why?

  • Having funds in this special kind of insurance’s benefit pool means they can then hire professionals to provide needed assistance. Having professional help means they won’t become a burden on family. It will also enable them to be better able to maintain as much independence as possible and thus retain their dignity.
  • Children won’t have to face the very emotional and difficult task of providing personal care to a parent! Thus, they will be free to manage the assistance you are receiving; to care about you; plus help as they can.
  • Having this special kind of financial protection means you should not have to worry about the conflict, which often develops among children. What causes a problem? The concern, which is often raised, is their parent’s savings nest egg is being spent for the care of one parent vs retaining these funds for the other.

Some say – Wow Long Term Care insurance is expensive. Yes it is but in comparison to paying yourself for the very high cost of professional assistance here in Conn it results in the premium for this important insurance being lower than the premium cost vs risk of other insurance we have such as on our car or our home! 

Call John C Parker today at 860.739.0005 if any questions.