When an elder parent can receive quality care without draining assets, their adult children avoid the burden that long-term care can have financially on a family.
A leading expert in Long-Term Care Insurance says it’s more than just about money.
“Adult children are always telling me that their mom or dad’s Long-Term Care Insurance policy allowed them the time to be family,” said Matt McCann, a nationally known expert on Long-Term Care insurance and extended care planning. “Had it not been for their Long-Term Care Insurance, they may have been forced to be caregivers or managed paid caregivers forcing their parents to spend life savings on care,”
A new poll by the Associated Press-NORC Center for Public Affairs Research that says a significant number young adults are already providing long-term care services for older loved ones.
The poll indicates one-third of American adults under age 40 have already provided care for elder family members, and another third expect to be called upon to do so within the next five years.
“These younger adults are feeling stressed about long-term care. We now see multiple generations concerned about being caregivers. Affordable Long-Term Care insurance is the easy solution for many as it will pay for quality care at home or in a facility and reduce family burden,” McCann said.
Although about 7 in 10 Americans will need some type of long-term care once they reach age 65, just 22 percent of young adults think they will need care someday.
“Caregiving is hard on family, and paid care drains savings. Long-Term Care Insurance will safeguard retirement accounts. It is best to plan prior to retirement to take advantage of very affordable premiums and good health discounts,” McCann explained.
Matt McCann assists people nationwide using his unique process where they speak with him on the phone while seeing his computer screen on their computer. He works with all the major companies in Long-Term Care. He recommends these reference websites for research:
LTC News offers articles and resources: www.ltcnews.com
US Department of Health and Human Services: https://longtermcare.acl.gov/
Free Long-Term Care Insurance Quotes: https://mccannltc.net/free-quotes
McCann’s website also features numerous resources so consumers can learn more about long-term care planning.