Have You Taken Your Long-Term Care Insurance?


Long-term care planning is something we think of when we start getting older. You know that we need insurance and plans in place for when we can’t take of ourselves and need assistance in our day-to-day life. If you are not having any protection related to your health than you may face elder abuse by your loved ones or caretakers.

Many people don’t prefer having any long-term care plans as they think their families can take care of them or they feel they have enough assets to keep them above water level. They’ll be safe without care plans, but it’s not true.

 You cannot help yourself when you don’t have any rescue plans. Think of care-plans to safeguard your family from any twisted situation. If you find anything wrong happening with you, contact Elder Abuse Attorney in San Bernardino for your help.

Is a long-term plan essential?

With the rising costs of the insurance and care, it’s getting necessary to have insurance and plan for your needs in the future. Long-term care is something very vital and becoming an essential part of our lives as compared to past. It protects your assets by giving you financial support in the future when you need the most.

Long-term care insurance is something most of the people don’t want, but it’s likely to be used at some point. The cost of a nursing home is expected to be more than your insurance price per year. Your family may not bear such a significant amount, so it’s better to have insurance plans for covering yourself with the costs of your accommodation. Even in an assisted-living facility, the expenses are very high.

In case you need nursing home temporarily for recovering any of your surgeries or illness or any injury, Medicare provides you 100 days covering. However, it doesn’t offer with the help for nursing homes or in-home help unless you have no savings.

Why is long-term care insurance right choice for you?

You should take care of a few things including what you are worth and the odds of having long-term care insurance. According to statistics, around 70% of Americans need long-term care when they reach the age of 65, so the likelihood is you’ll too need it. If you are earning more than net-worth of buying long-term care insurance, then you should go for it as it will not affect your savings. But if you don’t have more than $2000 in your savings than relying on Medicaid is fine.

Finally, go through your family tree. If others too have ended up having long-term care insurance than you too should have it, you may need it in future. Health and longevity both are important, but having a longer life means you rely more on care insurance.

If you’re facing any elder abuse or need any legal help in keeping you safe from wrong treatment than you can freely contact the Law Office of Michael. C. Maddux and talk to Elder Abuse Attorney in San Bernardino. You can also take advice regarding your legal issues or elder abuse.