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Being proactive, not reactive, about long term care planning

Getting old is not for the faint of heart nor, apparently, is it for those with light pocketbooks. When it comes to long term care planning, Illinois residents should really take the time to think about the future and the possibilities that might come. Planning ahead may ensure being able to deal with unforeseen circumstances. Even if long term care is never needed, it's a wise idea to have a plan in place. 

Enlisting people who may be able to provide answers such as a financial planner and a lawyer experienced in estate planning and elder law is a good place to start. Long term care planning isn't just for the elderly. It is also for curve balls life throws such as what would happen if someone should be involved in a serious accident, which can happen at any age. 

Long term care insurance may be an option, but it's not the only one. Even those individuals who have this type of insurance might not want to put all their eggs into one basket and look into other avenues to finance long term care. Two other options might be an annuity with a fixed index that provides benefits in case of illness or a life insurance policy that actually allows death benefits to be used for policy holders who have terminal, critical or chronic illnesses. 

There are many ways Illinois residents may be able to ensure long term care planning meets what may come. It's great when a plan doesn't need to be executed, but could be devastating if nothing is in place should the need arise. A lawyer will be able to help his or her clients come up with their own plans taking into consideration their own circumstances. 

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