People invest in Long Term Care Insurance for three reasons: to save money, to not become a burden to friends and families and to make their own decisions about where care is received and not the government.
One of the really heartbreaking elements of the burden issue is how much of a toll it can take on the caregiver. Most often, at the beginning of people needing help with normal activities, the burden of being a caregiver falls on a family member, usually the oldest daughter. It’s not so easy, however, because families live further apart and have very active lives themselves. Then there is the sandwich generation issue. Almost everybody has been exposed to the stresses caused by the need to provide care
Having the resources to hire professional help is critical if a semblance of routine family life is to be maintained. We all ought to be preparing for the day when the crises hits.