Women and the Art of Long-Term Care Planning - New Hampshire
The purpose of this communication is the solicitation of insurance. Contact will be made by an insurance agent or insurance company.
In many ways, long-term care planning is a women’s issue. Women are most likely to benefit from long-term care insurance for two reasons: their traditional role as caregiver and their longer than average life expectancy.
When a family member needs long-term care, it’s frequently the female head of household who carries the biggest part of the load when it comes to coordinating and executing care – whether the loved one is in the home or a care facility. This can be difficult physically, emotionally and financially for the woman doing the care giving. Long-term care insurance can help offset this burden for women by helping the family to pay for care, be it informal or formal.
If a woman is employed outside of the home, long-term care insurance may help enable her to continue to work. In cases where a female head of household is retired and helping provide in-home care, long-term care insurance may help offset the burden of care provisioning and provide regular respite for the caregiver.
The second reason long-term care is really very much a women’s issue is that women simply live longer on average. This means that naturally as a result of living longer, women are also more likely to wind up needing long-term care and not having a spouse there to care for them. This combination can be financially stressful for women via depletion of retirement assets to pay for care, or via degradation of family funds set aside for legacy transfer.
For women, adding long-term care insurance to a financial plan can help relieve some of the pressure that comes with being a caregiver for a spouse and guiding a family through a time of difficulty. Long-term care insurance can also provide a woman with some assurance that her potential long-term care needs later in life will be covered, and provide her with some measure of financial protection against the high costs for long-term care should the need arise.
The purpose of this material is solicitation of insurance. An insurance agent may contact you. Long-term care insurance policies are issued on policy form series ILTC-5000 and INH-5000 with a state identifier where applicable and edition date. These policies may have exclusions and limitations.