Long-Term Care Insurance And Long-Term Care Costs
Retired teacher Anne Schuessler decided to purchase Long-Term Care Insurance (LTCI) based on the uncertainty of the future. "I just wasn't sure of what's ahead for me and I felt this was kind of a safety net," says 66-year-old Schuessler, who lives in Cedar Rapids, Iowa. "My children live far away. If I needed some extra help, I could get it without having to bother my children."
Schuessler can't know if she'll ever need long-term care, but she does know her LTCI plan will help pay for long-term care costs, lessening the impact a health care crisis would have on her children. When a person can no longer care for herself, long-term care helps with the tasks of daily living, such as bathing or eating. This assistance can be necessary for many reasons: after an injury or debilitating illness; due to chronic illness or disability; because of a severe cognitive impairment, such as Alzheimer's disease; or due to deteriorating physical or mental health.
This article continues at Long Term Care Costs.