Page 39 - Book12E

CHAPTER 4
Protecting What You Have— An Introduction to
Long-Term Care
All of us hope to be able to work productively at a meaningful job throughout our working lives and then enjoy a rewarding and healthy retirement. However, sometimes we don’t take into account what our health status will be in the years ahead and whether we will be able to support ourselves in the event of a long-term disability or illness. This provides some helpful information on long-term care—what it is and things we can do earlier in life so that we’re better prepared to handle the expenses should we require long-term care in the future.
What Is Long-Term Care?
As explained by the National Association of Insurance Commissioners (www.naic.org), someone with a prolonged physical illness, a dis- ability, or a cognitive impairment (such as Alzheimer’s disease) often needs long-term care. Many different services help people with chronic conditions to overcome limitations that keep them from being inde- pendent.
Long-term care is different from tra- ditional medical care. Long-term care helps one live as he or she is now; it may not help to improve or correct medical problems. Long-term care services may include help with:
• Activities of daily living
• Home health care
How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.
—Robert G. Allen
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