I was once reading over insurance articles and came across this interesting piece about long term care. I have to admit, I was sufficiently intrigued as I have never heard of it before. My curiosity paid off since I learned something I might potentially need in the future and I would like to share with you my newfound learning.
Before we discuss long term care plans, it is very important to know what ADL is, or activities of daily living. These are the things we do to take care of ourselves, such as eating, brushing our teeth, dressing and undressing, and even the simple act of taking a bath. Sometimes, it is unfortunate that one loses the skills necessary to perform these simple activities. He or she is not clinically ill and no medication can solve the situation. Oftentimes, it becomes the source of frustration among family members and it is also disconcerting for others to see their loved ones in this state. Many emotional issues surface when this happens and this complicates the fact that situations like these require not just attention, but continuous flow of funds as well.
In times like these, resources are usually used up or depleted, because there is a need to hire professional help or assistance, or if one of the family members does it, then that family member loses the time to work somewhere and earn a living. Either way, the family will certainly suffer great financial setbacks.
Long term care plans are plans that pay for such services and it can be purchased by anyone for anyone. Whether you would be requiring a live-in professional caregiver or would rather be staying in a nursing home, long term care plans provide for these, including consultations with doctors and up to an extent, medications when applicable. Although not as often offered as health insurances by insurance companies, long term care plans can be bought our purchased, with a little homework from you. You just need to know which companies provide this in their product line and the easiest way to do this would be no other than through the internet. You simply search for “long term care” and your state and I am sure that Google will churn out a list of several insurance companies in your area.
Of course, when choosing your long term care plan, it will always be good to compare several proposals, probably around three to five proposals, so that you will be able to get the best value for your money. Do not go and jump at the first proposal that you will encounter. If it still turns out to be the best proposal after you have done your comparison, then, at least you have validated your choice and you know that your are not overpaying for something and that you are getting a complete package.
If you are wondering when to purchase long term care plans, let me tell you an accepted fact. It will always be beneficial to purchase an insurance plan (and long term care plan is a form of one) as early as possible, since the premiums will always be lower. Of course, you should always consider your financial status but purchasing long term care plan should be looked at as a commitment that one needs to take: it will not just happen by chance.
Long term care plans will be a nice gift for an elderly loved one, say a parent or a grandparent, though not all may be comfortable with the idea that they might need such assistance in the future. The premise from which long term care originates is something some people might not rather think of, much less talk about. You know your relative best so I will leave it up to you whether to disclose your purchase or keep it a secret until such time it is appropriate to bring it up. After all, elder people are sometimes more sensitive than younger ones, but they might also have more wisdom.