One in five Americans is currently providing long-term care to a loved one.1
They are helping a family member with Alzheimer’s prepare and eat dinner … helping a loved one, coping with a brain injury from a bike accident, bathe and get dressed … helping a spouse who suffered a stroke move from a bed to a wheelchair and back.
People with chronic illnesses, disabling conditions or cognitive impairments may need long-term care to get through their daily routines for an extended period of time—or for the rest of their lives.
Wherever care is provided—in the home, an assisted living facility or a nursing home, doing it on a long-term basis can take its toll … physically, emotionally and financially.
Providing long-term care can be physically demanding, often becoming too much to handle alone. It can take an emotional toll as well … juggling care management, work responsibilities and other family needs.
Then there is the financial impact. Many people don’t realize that this type of care is typically not covered by Medicare, Medicaid or health insurance plans.
So if you or a loved one needs long-term care, how will it be paid for? The reality is that people are living longer, thanks to medical advances and healthier lifestyles. By planning for long-term care now, you will be giving the greatest gift possible to your family and friends: the freedom from the emotional, physical and financial responsibilities, so they’ll be able to focus on offering you their love and support.
When developing your personalized plan, work with a company that will help you understand the many options for funding long-term care … a company that has the highest financial strength ratings awarded to any insurer and will be there when you and your family need it most.
1Northwestern Mutual Long-Term Caregiving Study, October 2013