That's not all. This is a woman's issue. The Alzheimer’s Association says a 65-year-old American woman has a 1 in 6 chance of developing Alzheimer’s disease. That does NOT count other type of memory loss such as simple dementia that impacts people, nor does it count early onset Alzheimer’s which impacts younger people.
Women in their
60s are also twice as likely to develop Alzheimer’s than breast cancer,
according to the report — “2014 Alzheimer’s Disease Facts and Figures” — from
the Alzheimer’s Association.
Men generally
need care first and without help this is placed on the woman’s lap (wife,
daughter, daughter-in-law). The reasons why you apply for the coverage in the
first place is so you will not burden your family and protect each other … your
assets and your lifestyle from the most likely thing to happen to us in our
lifetime.
Long Term Care Insurance is a very affordable way to address this risk and can provide you with tax free benefits and services, including the dollar-for-dollar asset protection that is offered by most states by their partnership programs.
The linked article talks about how you can’t depend on inheritances to save your retirement. While it might be too late for your parent’s to plan (premiums are based on AGE and HEALTH), it is not too late if you are in the planning age for your future retirement. Generally, if you are 40 to 65 that is the best time to plan and the younger and more health you may be, the more affordable the premium will be.
Read the article here: http://www.marketwatch.com/story/dont-count-on-inheritances-to-save-your-retirement-2015-05-06
Learn more how you can plan for the physical, emotional and financial burdens Long Term Health Care can have on your loved ones. Affordable Long Term Care Insurance should be an important ingredient for your retirement plan Learn more now at http://mccannltc.net/
You can follow Matt McCann on Twitter: @mccannltc https://twitter.com/mccannltc
