The good Lord looked down on me some years ago. A young man came to our door and said that as part of our financial planning, we should have long-term care insurance. He said that long-term care could eat up all of our retirement income and that nothing would be left to our children.
None of us know the future, but my life has dementia and requires full-time care. That care which costs over $50,000 each year in paid by my insurance company. My insurance also now pays her premiums.
It actually costs less to take care of a person at home than in a nursing home. I don’t want my wife in a nursing home, and even if I didn’t have insurance, she would still be at home. Taking care of her it is my responsibility as long as I can do that. After that, my children understand that it is their responsibility.
Now sometimes, it is essential to put a person into a nursing home. I understand that. But I know that at times people in nursing homes are neglected or abused. I can’t allow that to happen. It is a good reason to be very careful when you select a nursing home. You should check with the state you live for any violations by a particular nursing home.
Think about your future and the future of your loved ones. What will your future needs be?
318 total views, 1 views today