Chances are you, your neighbor, a family member, or a coworker are providing some form of caregiving services. In the United States, millions of people provide support and care for ill or impaired loved ones. Yet, many don’t talk about the effects of caregiving on family members and what can be done to address the issue.
The month of May is American Stroke Awareness Month. Did you know 80% of strokes are preventable by controlling high blood pressure? Stroke is a disease affecting the arteries that lead to the brain. It’s the fifth leading cause of death and disability in the United States killing over 133,000 Americans each year.
Many Long Term Care insurance policies come with lots of built-in features and protection. LTC riders, or options as we call them, offer even more protection for an additional cost. Depending on the insurance carrier and product, LTC options may vary. The following are the most common LTC options available. Continue reading
When buying a Long Term Care insurance policy, there’s no one-size-fits-all plan. Coverage can be customized to fit your needs and budget. When shopping for coverage, it’s important to understand the difference between a daily and a monthly benefit. This feature can determine how much money is paid out in a claim. Continue reading
It’s safe to say, no one buys insurance because they hope they’ll use it. Insurance is often associated with something bad or negative happening. Most people think about insurance once a year during Open Enrollment at their work, or if a life event takes place which makes them think about getting covered.
There are a few exceptions to this. For example, you may pay for medical, dental, or vision insurance through payroll deduction at work. This is coverage all people can benefit from with annual preventive care visits to help you stay healthy. Continue reading
A long term care event in the family can cost you. And not only financially. While long term care events can be very expensive when help is needed for activities of daily living, the overall cost to individuals and families aren’t just limited to financial costs. The true cost of long term care involves several other aspects you may not realize.
Have you taken the important steps to protect your income in retirement? Just like mashed potatoes at Thanksgiving dinner just aren’t the same without a big dollop of warm gravy, your income and protection have the same satisfying relationship.
While this may sound like a stretch, allow us to explain.
Transamerica Institute is featuring a new study on The Many Faces of Caregivers: A Close-Up Look at Caregiving and Its Impacts. They surveyed over 3,000 non-professional family caregivers around the country to offer a better understanding of a caregiver’s duties. The study included the impact of caregiving on a person’s personal health, well-being, finances, employment, and preparations for retirement.
The research offers an in-depth analysis of caregivers by employment status, gender, generation, ethnicity, household income, whether they are the primary caregiver, and whether they volunteered to be a caregiver or not. Also included was information about their personal health and financial situation.
Genworth Financial recently released their annual 2017 Cost of Care Survey Findings. For 14 years, Genworth has examined and documented trends across the long term care services market. It’s not surprising that their results have found the costs for care services steadily rising over the years for home care, nursing home care, and everything in between.
To help you digest their new 2017 survey report, we’re providing an overview of their findings based on the national median rates for various care settings.
Have you created a long term care plan for your future? It’s frightening to realize 70% of people will need long term care services due to a physical or cognitive impairment as they age. With these odds, the best way to prepare for the future is to make a plan for long term care before you need it. Here’s the spooky truth of what could happen if you don’t make a long term care plan.