My dog T Beau and I took a road trip during the 4th of July weekend. We stopped for gas between San Antonio and Houston. T Beau and I went for a walk, where he met another small dog. They did what dogs do to become acquainted.
As is often the case, while our dogs were getting to know each other, the owner of the other dog started pleasantly chatting with me. She was older and appeared to be in good health. She was 79, her husband 84. Imagine my surprise as she chose to tell me about her plan for long term care (LTC), right off the bat!
The surprises continued as she explained that they adopted the dog because, "if one of us dies, the other will have company." Yes. The dog was their long term care plan.
Be Realistic About Your Needs for the Future
I was silent for a short while. The best I could do was to politely tell her that this didn't sound like a realistic long term care plan to me. I wished her a safe trip and T Beau & I continued on our way, her words still ringing in my ears.
Of course, having companionship is important and has
proven to extend the quality of life, even in later years. However, having a sweet pup around isn't going to help when you can't button your blouse or open a can of soup. Or a can of dog food.
Share Your Long Term Care Plan with Friends & Family
Talk about your plans, honestly and explicitly. Make sure that your most trusted friends and loved ones have copies or scans of your LTCi Schedule pages. Be proactive. If you own LTCi, the moment you need a little help with your activities of daily living, file a claim. Denying the fact that it's time for you to get extra help can cause unnecessary fear and undue stress for you and those you love. It can also lead to avoidable accidents and a quicker decline than necessary.
Long term Care Insurance (LTCi) Statistics Are Here for 2016!
Have You Had a Rate Hike?
Since I do not get copies of all rate hike correspondence, I often do not know if you've had an LTCi rate hike.
Usually, even with the rate hike, your policy is below current market price. Clients find it highly useful to discuss what causes rate hikes, how they occur, and how likely there'll be more in the future.
If you cannot tolerate your new rates, there are optimal ways to downgrade your coverage while keeping it highly effective.
Do not tamper with your policy until we've spoken! If you need to discuss your LTCi rate hike, please email or call me.
