U.S. Census Bureau data from October 1994 to January 1995 indicates that one in 5 Americans have some kind of disability. Twenty-six million of them said they have a severe disability. The likelihood of becoming disabled increases with age. Half of all seniors age 65 and older have a disability, and even among adults ages 22 to 44 one in seven have some type of disability. Two out of every five workers age 45 will be disabled for 90 days or longer some time before retirement.

Recently we attended my husband's 40th high school reunion. Being in the insurance business for a combined total of more than 40 years, we hear many stories about illness, disability, and death. That evening, many were forced to face reality when we realized that since graduation in 1958, 25% of the class members are deceased. It's anyone's guess how many of them were disabled for a length of time before death. Looking around the room we could not help but wonder how many are on their way to becoming disabled due to a medical diagnosis.

The next logical question would be – did they need care for an extended period of time? How did this effect the spouse and other family members? How many of them did proper planning for either or both of these contingencies?

None of us wants to face the prospect that we are not invincible. We choose to think that it's always the man across the street that has a stroke, the lady at church who has Alzheimer’s, or the 40-year old woman who works at the local savings and loan that is diagnosed with MS.

I read a book just last week entitled My Year Off, Recovering Life After A Stroke by Robert McCrum in which he recounts awaking one morning to find himself totally paralyzed on the left side, the victim of a stroke brought on by a massive cerebral hemorrhage. The 42-year old author and literary editor of London Observer tells the story of his one year of moving from the ‘kingdom of the well’ to the ‘kingdom of the sick.’

Four years ago I lost my 42-year old sister, after an 13 year battle with breast cancer. The financial consequences to her family were beyond belief. Bad things do happen to good people.

At this point, I’d like to do a reality check. If you have a spouse:

• How much does your spouse weigh?
• Can you pick your spouse up?
• Will you be able to pick your spouse up in ten years?
• Can and will your spouse be able to pick you up?

Now that we've put things into perspective, you should know that 80% of Long-Term Care is received OUTSIDE OF NURSING HOMES. The Long-Term Care insurance policies that are being put into place today are actually designed to KEEP PEOPLE OUT OF NURSING HOMES. We all want to be at home when we are ill.

It's important to note that it doesn't matter what our age there is NO COVERAGE for Long-Term Care; it doesn't matter who you are insured with. Whether you have group major medical insurance through your employer, an HMO, an individual health insurance policy, or Medicare and Medigap insurance, THERE IS NO COVERAGE ANYWHERE for Long-Term custodial, or basic care for an extended period of time. (This is sometimes referred to as “maintenance care”.)

Do not think that you have “full coverage”. There is no such thing when it comes to covering your chances of needing Long-Term Care either AT HOME or in a facility. Long-Term Care insurance is the only insurance that pays a benefit when you can no longer take care of yourself.

Long-Term Care insurance plans are designed for specific individuals and situations. A typical policy will contain a daily benefit from $50 to $250 per day, a benefit period from 2 years to unlimited lifetime, an elimination period (deductible) from 0 to 365 days, and an inflation protection (cost of living increase) of either 5% simple or compound. The policy will also contain a waiver of premium benefit, a restoration of benefits and no skilled care or prior hospital stay will ever be required before you access your benefits. All policies will pay a benefit for Alzheimer's disease.

If a person is not considering a traditional Long-Term Care insurance policy for WHATEVER reason, it is important to know that there are numerous other options.

Always work with a professional Long-Term Care Insurance Specialist who is experienced at protecting all that is precious. BE AN EDUCATED CONSUMER.

Call Dorothy for your free no obligation consultation at 248-844-9787.