Quotes from Professionals and Consumers About Purchasing Long Term Care Insurance
From an Estate Planning Attorney
As an estate planning and elder law attorney, my job is to make sure that not only are my client’s assets are passed to who they want, when they want, and how they want, but also that they have the means to adequately care for their loved ones and themselves in times of crisis. As someone who works almost exclusively with those in long term care crisis, I know how important long term care insurance can be.
Long term care insurance gives my clients the means to remain as independent as possible, and to age where they choose to. It also gives them the ability to pass on the wealth they have worked so hard to accumulate to their heirs and loved ones.
At a time in our lives when independence begins to give way to dependence on others, we need the peace of mind that we can choose where and how our care is provided, and know we won’t be a burden to our family. To me, long term care insurance buys additional independence, and peace of mind.”
Brian G. Quinn, Attorney at Law
Quinn & Banton, LLP
From a Home Health Care Provider
Based on my twenty years of experience in the private duty home care business I totally recommend long term care insurance. The sooner purchased the lower the cost. The bottom line is none of us has a crystal ball to know what challenges we will face as we get older. Long term care insurance gives us the opportunity to make choices with regards to our care as we age.
Here is a perfect example: Several years ago we had a client for almost three years. This case involved a couple where the husband’s employer provided long term care insurance. The policy only paid $75 per day. The wife was stricken with a rare Parkinson’s type disease which rendered her unable to walk and was bed and wheelchair bound.
The husband had promised his wife he would not put her into a nursing home and would keep her at home. The policy provided them with enough cash to cover a little over half the daily cost of care. The long term care policy allowed the husband to keep his promise to his wife until she passed away.
It is nice to have choices and not be forced to do something we do not want to do.
Anchor Health Care
From a Single (Divorced) Woman
As a single professional woman I have spent decades saving for a comfortable independent retirement. However, I worried about the risk to my retirement savings should I ever need long term care. Having worked in the healthcare industry for over 40 years I knew that even one episode of long term care could potentially wipe out my savings.
So quite simply…….…..my decision to invest in long term care insurance has given me the priceless gift of peace of mind. I no longer spend time worrying about losing my life savings to fund long term care should the need ever arise for me. My retirement days are now more carefree knowing that I have protected my assets with a good long term care insurance policy.
Jan, retired healthcare consultant