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long term care planning Archives

Long term care planning necessary for unforseen events

Many have said that getting older is a privilege. But advancing age may come with the need for extra care and that costs money. The need for long term care planning for Illinois residents has never been more crucial since more than half of those aged 65 or older will have long term care costs. Statistics from the U.S. Department of Health and Human Services' Administration on Aging show that men will need help in old age for more than two years, while that number is nearly four years for women.

Safeguarding long term care planning documents

Taking the time to plan for unforeseen future events also means keeping the documents safe upon which those plans are written. Illinois residents who have taken the time for long term care planning should have those documents well-organized and in a safe place accessible for when the time comes. Not having documents at the ready could create a nightmare situation for the person who has written them and for their family members. 

Long term care planning: Separation may be better than divorce

Couples who are thinking about divorce have many things to ponder. One of those may be how divorcing could affect long term care planning efforts. Illinois couples who are 55 years of age of older and who are contemplating divorce may do better separating instead of ending things formally when it comes to having enough financially for care as they continue to age. 

Long term care planning: Helping Illinois middle income earners

It's becoming more difficult for middle-income earners to stay afloat. Older Illinois middle income earners may find it especially difficult to shell out the needed funds that may accompany care in old age -- for things like housing and health care. By 2029, the oldest of the baby boomer generation will be reaching their early 80s which is the time when extended care may be needed. Long term care planning for these people likely has been a problem.

Long term care planning: About LTC insurance

Life has a way of throwing the most difficult curve balls. Illinois residents who are thinking about long term care planning should have some knowledge about long term care (LTC) insurance and how it can benefit them when it comes to getting care in advancing years. Just a little more than seven million Americans have LTC insurance which covers things not covered by Medicare.

Wealth doesn't lead to increased long term care planning

Most people live in the moment. However, Illinois residents who are getting on in age should take some time to consider long term care planning and what that may mean for their futures. Most people are still active and healthy well into their 50s and 60s and beyond, but planning for old age is a necessity and putting it off may not be the wisest idea, even if there is more than enough money in the bank.

Long term care planning: Choosing a financially feasible option

It has been said that getting old is not for the faint of heart. It's a fact of life that most Illinois residents face, and aging in good health is a blessing. Long term care planning can go a long way to ensuring good health in senior years; however, plans have to be put into place before they're needed. When people can no longer make decisions for themselves, there must be some sort of documentation that stipulates their wishes.

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. 

Insurance not necessary for long term care planning

Insurance is not mandatory when it come to planning for the future. Illinois residents who are thinking about long term care planning have other options aside from purchasing basic long term care insurance policies. Besides, many of these insurance companies are becoming pickier about who they accept to insure.

Long term care planning: Taking care of aging parents in Illinois

Time waits for no one. And as much as children don't like to think about it, their parents will get old and may need their help. Long term care planning in Illinois is essential for helping the elderly to continue to lead productive, independent lives. When that is no longer a possibility, planning can ensure senior citizens are given the best care possible when they can no longer care for themselves.