LTC Paradox: The Healthier You Are the More You Need LTC Insurance

Almost everywhere around the world, people are living longer and fewer children are dying. While this is great news, it comes with a different kind of challenge. People who are living longer are dealing with more chronic diseases, disabilities, and the effects of old age later in life which are taking a big toll.

Life expectancy is climbing nearly everywhere and so are the number of years people will live with conditions such as hearing or vision loss and mental health issues like depression and anxiety. High blood pressure has become the leading health risk around the world, followed by smoking and alcohol.

But what if you are the epitome of good health? What if you are not currently facing chronic diseases or debilitating conditions? The longer you live, thanks to preventive health measures or good genes, the more time there is to develop diseases of the body or brain (i.e. dementia or Alzheimer’s).

Modern medicine is keeping us alive longer which allows us to spend more time with our loved ones. But the body may not be able to continue doing the regular tasks and functions it’s used to doing.

Even if your body and brain remain healthy and alert as you age, physical functions such as walking, moving from a bed to a chair, or dressing yourself can become difficult. Most people (over 70%) will need some form of long term care in their lifetime, and not all types of care can be handled by a loved one.

If you are in the retirement planning ages of 50-65, it’s important to think about your future care needs and create a plan while you are young and healthy. The financial risk of long term care is significant, and the old adage applies, “You can’t insure a burning house.” Once your health declines, it may be too late to get covered.

“While no one has a crystal ball to see the future, the best thing you can do is be prepared no matter what.”

Individual Long Term Care Insurance (LTCI) requires full medical underwriting. If certain health conditions already exist, you may not be eligible for coverage.

While no one has a crystal ball to see the future, the best thing you can do is be prepared no matter what. When planning for retirement, don’t forget about the importance of LTC planning, including where you want to receive care and how you’ll pay for it.

Learn more about the benefits of Long Term Care Insurance to protect your income, assets, and family during a long term care event. Speak with an experienced LTC Specialist today for pricing and coverage options.