Long-term care insurance covers nursing home care and maybe home care for those individuals who cannot perform the activities of daily living.
If Dad has very few assets and it would be a financial hardship for him to pay the premiums for the insurance, then he probably doesn’t need it.
So how do you stay in your own home or your community so you are close to your support system?
Long term care insurance covers nursing home care and maybe home care for those individuals who cannot perform the activities of daily living.
There are many reasons to own life insurance but for young families it’s for pure protection.
More than likely, at some point in your life you will need long-term care…but is insurance necessary?
Long term care is simply defined as the care needed for individuals with chronic disabilities, this care may now be in the individual’s home or it may mean custodial care in a nursing home.
What if Dad can no longer maintain his home or comfortably live there because of the stairs or outdated plumbing?