November is the ideal time to discuss long-term care with your financial advisor and learn how they can help you plan for a more secure future. At least 70% of people over the age of 65 will require some form of long-term care services and support during their lives.* If you are like most people, you aren’t thinking or talking about the financial and emotional aspects of long-term care needs. Long-term care is a range of services and supports you may require to meet personal care needs. Most long-term care is not medical care, but rather assistance with the basic personal tasks of everyday life, sometimes called Activities of Daily Living (ADLs), such as:
- Bathing
- Dressing
- Using the toilet
- Transferring (to and from bed or chair)
- Caring for incontinence
- Eating
Long-term care insurance can help:
- preserve savings and income
- maintain control about where care is received
- provide the ability to afford higher quality or greater frequency of care
- reduce dependence on government programs like Medicaid and Medicare
- relieve loved ones from the responsibility of caregiving.
*Source: Long-Term Care
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Author: Barb Leson, FMLI | Insurance Director | Allegheny Financial Group | November 2015
Allegheny Financial Group is a Registered Investment Advisor. Securities offered through Allegheny Investments, LTD, a registered broker/dealer. Member FINRA/SIPC. The above comments are provided for discussion purposes only and are not meant to be an offer of any specific investment or tax advice.
