By camila | December 2, 2020

Long-Term Care Planning: Are You Your Parents Long Term Care Plan?

Happy Insurance Tip Tuesday! In the last video of our Long-Term Care series, Donn begs the question: Are you your parents’ long-term care plan? ?
People are living longer and so the odds of them getting sick or developing a condition that requires care has gone up. In these instances, many people depend on a long-term care plan ?
This type of care can be taken care of in the following four ways:
1️⃣ Paid out of your personal income
2️⃣ Funded from a savings account
3️⃣ Provided by family
4️⃣ Covered by insurance
In many cases, children opt to take care of their parents’ long-term care needs by having the parent move in or the child going to live with them or care for them in their home ?
For young adults in their 20s and 30s with parents in their mid 40s to late 60s, it’s extremely important to have these discussions with your parents before it becomes a necessity.
If you haven’t begun thinking about this type of future planning, now is a great time to start! Give us a call at ? 609-971-9725 and we’d be happy to help you out.