I think about my future constantly. I think about the burdens that could come later in life that would effect my children. This is something I have to think about because I have a degenerative disease that has no cure. Simple tasks are difficult for me and has I get older and the disease progresses I may not be able to take care of myself very well when I am older.
I already have great difficulty with getting in and out of bed, walking upstairs, lifting and moving things as well as other daily tasks. CRPS/RSD can get much worse than it already is, then factor in getting older…yikes! Since this is on my mind a lot lately, I decided to learn more about long term care insurance. I found some great information and resources from GENWORTH.
There are many things that can lead to the need for long term care. Things such as Stroke, Rheumatoid arthritis, Vehicle accidents, Multiple sclerosis, Diabetes and many other things. Also, just the simple act of growing older!
So, I’ve been reading and learning. It is all still a lot to think about, but I found this great article called Buyers of Long-Term Care Insurance Prefer Home Care. One part of the article that really clicked with me was this…
Rather than seeking the insurance as a way to cover the cost of a nursing home, some people see it as a way to keep themselves out of a nursing home — to provide a decent quality of life in their own homes, when they become frail.
That is exactly what I want. I do not want to end up in a home…eek! No, I want to be able to continue living my life and enjoy it. I just want to be able to have the help that I may need later in life so that my family doesn’t have to worry about it. After all, they have a life to live as well!
While researching I came across these estimates on cost of long term care. Eeek! I think we need to get some plans in order to prepare for our future because this is absolutely frightening to me! Right now, the national median annual cost for a private nursing home is $83,950! I read that in Indiana in-home care median costs could be around $43,472, based on 44 hours per week of care. Also adult day care is about 18,070 a year and covers 8 hours a day, 5 days a week. As of right now, there is no way that I could afford that and I certainly do not want to burden my children with it! Even living in an assisted living facilities would cost around $44,460 per year.
So what about you? Do you have a plan? I have put of thinking about the future and getting old and now I am afraid that it is time to get our plan in place.
This post is brought to you by Genworth on behalf of Brandfluential. All opinions are my own.