Long Term Care – Up Close and Personal

Without shame, I have to say that I am a HUGE fan of long term care insurance. Long term care insurance has made a tremendously positive difference in my life. You see, my father has dementia and Parkinson’s.

These diseases have been unfolding in my Dad’s life for around 5 years, I think. Does anyone out there have parents who don’t want to tell you anything because they ‘don’t want you to worry’? If so, you know exactly what I mean.

Well my brother, sisters and I found out about my Dad’s dementia after he started making a series of ill-advised business deals. …Definitely a blog for another day. At times, Dad thought he was in a hotel rather than at home. One time he was found sleeping on the floor in the den. I could go on and on. But, I won’t.

After 4+ years, Dad is now completely bedridden, doesn’t or can’t talk and he seldom recognizes any family members. In short, he is a heart breaking shell of his former self.

Thank goodness he had good financial advice that he followed! A while back, Dad purchased long term care insurance well before his cognitive health began to deteriorate. Long term care insurance doesn’t pay all of the bills. But, it does give us very viable options to provide for his care.

It is painful enough losing your parent to the mental decline caused by dementia or Alzheimer’s. But, to be grieving for the cognitive absence of your parent AND having no means to provide a decent level of daily care for them would be just too much to bear. I absolutely don’t know how families provide long term care for their loved ones without some kind of financial assistance.

Viva long term care insurance! 

Jane Nowak is a Financial Planner with Kring Financial Management located in Atlanta, Ga. Jane’s practice focuses on Women’s Retirement Planning and Financial Planning for Women. Her articles have been published on line at NASDAQ, Financial Planning Association and Womenetics.com. Follow Jane on Twitter at: http://twitter.com/moneygal2020

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