Monday, January 23, 2012

Long Term Care Planning Starts with Research

You buy food and clothes without going to the Internet to research. But you never buy a house, an educational plan, or invest in stocks and bonds without conducting a thorough research, right? Would you buy an insurance policy without performing long term care research first?

Difficult times drive people to tighten their belts and right now that is what most Americans are doing. They don't just put their hard earned money on something which they are uncertain of.

Although long term care insurance (LTCI) is one of life's necessities in this time and age, as it protects people's assets while granting them access to quality care, not everybody is sold on the idea that it will help them should they need care someday.

Many feel that there is scarce information on long term care (LTC), which they still associate with elderly folks up to this day, and so they think that it is not a big issue which requires their attention.

If only they have been following the reports of the U.S. Department of Health and Human Services, then they probably would know by now that 40% of the population receiving care at the moment belongs to the 18 to 64 age bracket.

The concept that long term care is only intended for individuals over the age of 65 has died a long time ago. These days, even babies with special needs can require LTC. Perhaps, by taking some time off from your regular schedule to study long term care you will realize how big a subject it is and how great is its impact on people's finances.

Where to Conduct Long Term Care Research

You don't have to pay for a seminar just to learn the basics of long term care. Bet you have friends with relatives in nursing homes or assisted living facilities. Just raise the subject casually over coffee and get everybody's interest to join in and share their two cents.

From being a casual topic, you can take LTC to the net to find out its legal definition and who requires it. Most websites that specialize in LTC define it as is an array of services which aim to meet the medical and non-medical needs of elderly people and those with chronic illnesses and disabilities.

From that given definition, it is clear that LTC is not just for frail senior folks but for anybody who is not capable of living independently because of a serious health condition. Now serious health condition here does not necessarily mean that one is sick but simply incapable of performing the ordinary activities of daily living (ADL) such as eating, bathing, dressing, use of toilet, continence, and transferring due to functional limitations or cognitive impairment.

While you're in long term care research mode, check out authority sites that offer ways to plan your LTC, how to pay for it, and when planning should really begin. Only when you've absorbed more than enough information about LTC can you actually begin your personal plan.

By: Sanders Mach
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