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:
Using the toilet
Transferring (to and from bed or chair)
Caring for incontinence
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.
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.