Repost from Feb 7th 2007 10:09AM by Byron Udell

This is a repost from last year. I'm going to start to revisit some of the older topics that I wrote about. There is definitely some good information and topics that need to continually be revisited over time. So, here's one about long-term care insurance.

Long-term care is when a person requires someone else to help him with his physical or emotional needs over an extended period of time. This help may be required for many of the activities or needs that healthy, active people take for granted and may include such things as walking, bathing, dressing, etc.

The need for long-term care help might be due to a terminal condition, disability, illness or injury. The need for long-term care may only last for a few weeks or months or it may go on for years. It all depends on the underlying reasons for needing care. Long-term care services may be provided in a number of ways, including but not limited to: in the home, at assisted living or in a nursing home.

Experts say that at least 60% of all individuals will need extended help in one or more of the areas above during their lifetime.

There are two types of long-term care:

• Temporary long term care is when the need for care for is only weeks or months. This could be because of rehabilitation from a hospital stay.

• Ongoing long term care is when the need for care is for many months or years. For example, chronic medical conditions, dementia, etc.

Having a well-prepared financial plan can help you enjoy a comfortable lifestyle in your later years.

If you or a loved one experiences a medical crisis in the future, you may be covered under health insurance and government programs like Medicare. However, health insurance and Medicare do not adequately cover long term care costs. There are a number of great long term care plans available. Check with your insurance agent and make sure to shop around to find the best one for you.

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