Getting the care you need

Chances are that you will need help caring for yourself at some point in your life. This need could be brought on by an accident, work-related injury, illness or simply by the natural effects of aging.

It could happen at any time.

Imagine that you are in a situation where you have difficulty dressing, bathing, moving around your home, eating or performing bodily functions. Who will help you do these things? If you are single, that's a critical question, but even if you have a large and loving family, do you want them to shoulder the burden alone?

Long term care needs and scenarios vary widely. Some involve care in your own home, while others can involve extended stays in assisted living or nursing facilities. They all have one common denominator: how are you going to pay for what you need?

Unless you have — and are willing to spend — substantial resources or can qualify for Medicaid, the only answer is long term care insurance (Medicare strictly limits coverage for long term care).

As with all insurance products, there are many variations to long term care insurance. These can include:

• Daily benefit amount
• Length of time the policy will pay
• Waiting period before you can collect benefits
• Types of care covered

Premiums vary depending on these factors, your age, health condition and other variables. You can also add extras to protect against inflation or allow you to purchase more coverage later.

Purchasing a long term care policy is one of the most critical risk management decisions you will ever make. When you are ready to tackle it, Winning Strategies Group is ready to help.