Sunday, June 8, 2008

Who Needs Arizona Long Term Care Insurance

The customary answer is of course seniors, to protect themselves from the crippling cost of becoming chronically ill or to old and frail and can no longer take care of themselves. According to AARP “About 60 percent of people over age 65 will require at least some type of long term care during their lifetime”. But the reality is that we all should consider a LTC policy to protect ourselves and our loved ones from financial ruin if we experience a devastating accident or debilitating illness and need assistance to perform everyday functions, such as feeding ourselves, bathing and getting dressed. A study, in 1995, concluded that 43% of individuals needing long-term care were children and working adults (as reported in Long Term Care: Diverse, Growing Population Includes Millions of Americans of All Ages by the U.S. General Accounting Office in 1995.)

Baby boomers are the single most at risk group that should be considering a long term care plan for themselves. As they retire in the millions our health care system will
become a very crowded place and the costs will grow with the increased demand. The federal government and Medicare will not come to your aid to help pay for custodial care. The Arizona State government is currently paying for poor Arizona residents who need long term care. The personal cost to individuals and families to gat the state to help pay, is nearly everything you own. So if you have assets you wish to protect, a spouse you do not with to impoverish, considering a long term care plan is essential to an effective retirement plan.

All married couples regardless of age, should consider a long term care policy as part of their overall financial plan along with their health and life insurance. Just as Medicare will not pay for custodial care neither will your health insurance policy. Medical science is making it possible to live a long time with a debilitating diseases or a massive personal injury; however, how your family will survive financially is predetermined only by your sound financial plan. For those under 60 years old an Arizona long term care insurance plan can be very affordable.

Due to the breakthroughs in medical science Arizonans are living longer lives. For that very reason long term care is something every Arizona resident should consider adding to their financial and retirement planning.

Paul A Lituczy has been specializing in affordable Arizona long term care insurance for his Arizona clients since 1991.

For more information contact me at (602) 502-3113 or visit my web site at
http://www.azhealthnow.com/ and fill out a confidential quote form.

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