Why People Decide to Buy Long-Term Care Insurance

I don’t want my care to become a burden to my family. 

The reality is 70 percent of us will need some type of long-term care after age 65. The level of care ranges from in-home assistance to assisted living facilities to nursing home care. On average, people need long-term care for three years. One in five people need long-term care for five or more years. 

Most of us want to stay in our homes as we age. But doing so can put a strain on our loved ones. It comes with a lot emotional strain and financial impact.  

When considering whether to purchase long-term care insurance, evaluate your personal situation and how it could change as you age. Think about what you would like to happen in terms of care and what is realistic. Most importantly, think about the impact to your loved ones. As you need more help with the activities of daily living, such as dressing, bathing and movement, will you — and your spouse or family member — be comfortable managing the care required? 

It’s essential to have honest conversations with your loved ones about what you want and what makes sense. It’s also important to revisit these conversations from time to time, as circumstances change.