Can Long Term Care Insurance help those with fewer family caregiver resources?
Forbes recently ran a great article “Who Will Provide Care For Childless Boomers?” which shows why many people should explore long term care insurance.
This piece brings up some great points about why it’s so important to plan ahead for future care. For instance, did you know:
- Family members provide about 70% of long-term care services, according to a survey by the American College of Financial Services.
- As of 2010, there were more than seven family caregivers for every person 80 and over.
- By 2030, estimates say, there will only be four and by 2050 there will be fewer than three.
That raises the questions:
- Who will take care of the childless boomers when they’re old?
- Who are YOUR three potential caregivers? Have you had a conversation with them?
Learn how long term care insurance may help provide resources to your caregivers (whoever they may be). Most long term care insurance policies provide care coordination services, and some will even allow for some informal care from friends or family (if the policy provides a cash benefit feature). Contact one of our specialists to discuss your situation and they can help you discover the planning options available to you.
Call us at 612-454-4400 or click here to get started!
