by guest Roy Whited
I have found that most people are concerned about how to pay for the costs of a long term nursing home stay or a home health care situation care as they age. Many seniors that I have talked with about long term care insurance seem to fall in to one of four categories:
Like it, but can’t afford it: There are those who like the idea of having long term care insurance to help pay for the cost of a long term nursing home stay or perhaps a home health care situation, but they simply cannot afford the cost of the premium. The older they get, the higher the cost of the insurance becomes. All is not lost, however. With the help of a knowledgeable elder law attorney, there are ways to protect their assets, with out buying insurance.
Like it, but can’t qualify: Then there are those who like the idea of long term care insurance and can afford to pay for it, but their diabetes or Parkinson’s or other chronic health condition disqualifies them. I found that these folks could benefit greatly by working with an elder law attorney to take actions that will preserve and protect their assets.
Already have some, but not enough: Some have already purchased long term care while they were young enough and had enough income to purchase it at low cost. For these folks, we look at their long term care insurance as the first line of defense to protect their assets from costs related to a long term nursing home stay or a home health care situation. Even with long term care insurance, they can benefit from the counsel of a qualified elder law attorney to help coordinate their benefits.
Don’t like the idea, or don’t want to pay for it: For those who don’t necessarily like the idea of insurance, or simply don’t want to pay for the cost of insurance, it is more important than ever to learn how to protect their assets from the cost of the nursing home or home health care without purchasing insurance and the sooner, the better.
The moral of the story: Seek professional advice to make the best choice for you and your family. Learn more now by attending a free seminar. Click here to get more information about the free, informational seminars in your area.
