With an LTC Plan

Without an LTC Plan

You have a professional care coordinator who will help you plan a program of care. Someone in your family must take the time to do research and decide who will take care of you.
Your family can be a part of the care planning process but do not have to be the planners. Your family must do all of the planning and searching for quality providers.
You will have the money to pay for quality care and not have to deplete your savings. You could be forced to take between $40K – $100K out of your savings and income each year to pay for care.
Your loved ones can continue on with their normal life. Family members involved with your care will be chained to your needs and may come to resent you.
It will be easier for your family to attend to your needs out of love and not obligation. Your family will have no choice but to deal with your problems at their expense.
You will be able to stay at home longer. You may be forced to enter a nursing home prematurely.
You will be able to leave some of what you worked hard for all your life to your children or a charity. You may have to use up all of your assets to pay for care.
You will have the peace of mind knowing that what you worked hard to attain will not be used up in a few short years by paying for care in the end. The biggest reason for financial failure among seniors today is the cost of long-term care.
You would be able to stay with your children without depending on them for all of your care. Because your children have busy lives, they may not be able to keep you in their home and provide for your care.
One family member won’t be stuck providing all of your care. Often family members come to resent one another because one feels he or she is providing more care or spending more money.
Long-term care funds are available so that you will be able to choose what kind of care you want and who will provide it. You and your family may have to make choices based on your ability to pay rather than on your needs or preferences.