Long Term Care Insurance: Should you consider it?

An ounce of prevention is worth a pound of cure. Many of us take great pains to make choices that will be good for our health in the short- and long-term. We change our diet, develop (and stick to) an exercise routine, get more sleep, minimize exposure to incidents of high stress. All this we carefully plan out simply because do not want to get sick.

But during the process, does it ever occur to you to prepare for the possibility that one day, your capacity to carry out even the simplest of tasks will drastically weaken? As we age, the possibility of debilitating health issues, immobility and diminished control rises. The Texas Health and Human Services (THSS) cites “that as many as 70 percent of people turning 65 can expect to use some form of long-term care during their lives.”

Apart from age, THSS has identified other factors that necessitate long-term care insurance, which serves as a source of financial assistance when you find yourself unable to perform daily functions like bathing and dressing. These factors are gender, disability (due to accident or chronic illness), current health status (including predispositions to critical illnesses like heart disease, stroke and cancer) and living arrangements.

In a 2014 report, the United States Census Bureau said that almost 40 percent of people 65 years and above had at least one disability, with two thirds of the sample saying that they experience difficulty in walking or climbing. Independent living difficulties came in second in terms of most-cited disabilities among the elderly. Further, Texas was among the states that recorded the largest number of older people with a disability.

It’s wise to take note of these numbers, and while there is nothing wrong with maintaining a positive outlook about your future health condition, there is also no harm in considering what you may eventually need for long-term care.

Our agents are ready to answer any questions you have regarding long-term care insurance, and finding a suitable plan that fits your financial capability and goals. Give us a call at 817-423-0048.