Thrivent Financial for Lutherans and Long Term Care

Thrivent Financial for Lutherans’ Fall magazine, Thrivent Magazine, has a very comprehensive article on long term care insurance that should be of interest to all our readers. The article is “Care You Deserve,” by Zach Dundas.  It covers all the main issues that prospective Long Term Care users should know.

He points out that about 75% of people over age 65 will require some form of LTC at some point in their lives.  Long Term Care is more than intensive medical care; it also involves assistance with meal preparation, bathing, household chores, and other essentials.  These basic life-tasks are known as the Activities of Daily Living which are the benefit triggers in all long term care policies.  He outlines what you can expect from Medicare and Medicaid, which is not much, being very limited in scope and poised to draw down assets from your estate in some situations.

There are discussions on the difficulties people have in talking with their families about Long Term Care, about the need to get your finances in order, and evaluating care options.

He concludes with an assessment of the types of Long Term Care facilities. There is at-home care, adult foster home care, retirement community, and assisted living. Discussions are offered as to what these categories mean, their appropriateness for you, and projected costs for each type of care.  Also mentioned are the pros and cons as to where  financing for these services might come from, which includes pay-as-you-go, trusts, annuities, and—of course— Long Term Care insurance.

If you'd like to learn more about long term care insurance please take a moment to fill in the form below and we'll mail you your quotes from the top 5 blue-ship carriers.  Thanks for reading today's blog.