The Importance of Planning for Long Term Care

Today I want to introduce a video that was posted on the Life Website. The video talks about a family and long term care. It’s an interesting story and highlights the challenges that many people face.

Too many times during my conversations with clients and potential clients, they shy away from the issue of long term care. A very dear friend of mine said:

• I’m not buying it.
• I don’t see any reason to do it.
• I’m better off investing my money.
• I may never put in a claim.
• It’s expensive.

I consider that to be the buyers mode – – “I can save the money by not paying the premiums.” When you watch the video and the real life stories of people that have been affected, you know it is never about the person who needs the care. It’s about the loved ones that are dealing with the person who needs the care. It’s always the spouse or the children that are left to take care of the sick person and so it was with Barbara Fosberg.

Barbara’s situation was that she became the caregiver of her husband who was diagnosed with Alzheimer’s. Once this type of event occurs, all of a sudden people look back and say, “Why didn’t I create a plan to protect my wealth?”

Just recently a friend called me and said, “What do I do? My mom can no longer care for my dad. She wants to put him in a nursing home. How do I deal with this?” The issue was that they needed some home care; someone to take care of the father because the mother was unable to do it, but they didn’t have any insurance. They didn’t have the money to pay for it.

How do we motivate people to take action today for something that may not happen, but could happen. Watch this video and think about your situation – not whether you are going to be in a nursing home and need care, but the impact of that to your loved ones.

Barbara Fosberg’s A Peaceful and Dignified End.

Through planning, we can really solve the financial part of this issue in a lot of different ways. I’ll be happy to discuss this with you and show you how these types of programs might work.