6-3 Short Paper: Long-Term Care Insurance Paper

Julie Grieco
Southern New Hampshire ni!ersit"
I #eel that planning is the most important step #or "our #uture$ Getting ol%er will
&ring man" issues that long-term care insurance coul% help with$ I #eel that waiting to
long to %eci%e i# purchasing long-term care insurance is &est #or "ou an% "our #amil"'
coul% &e %etrimental to "our #uture$ Purchasing this insurance is &est in "our ()*s$ I
&elie!e that it is important to ha!e this co!erage to assist with "our el%erl" "ears$ I
&elie!e that it is a goo% i%ea to ha!e this co!erage &ecause "ou %o not want to %epen% on
go!ernment programs that ma" let "ou %own in "our time o# nee%$
Long-term care insurance is important #or "our el%erl" "ears o# li#e$ It will pro!i%e
care #or "ou the care that "ou can no longer %o #or "oursel#$ It ma" &e that "ou are in a
nursing home #acilit" or in-home care is pro!i%e% to "ou$ I &elie!e that this t"pe o#
insurance is important &ecause "ou cannot pre%ict the #uture$ p to this point in "our li#e
e!er"thing ma" ha!e went "our wa"' &ut it coul% &e an acci%ent or "ou coul% &e #ace%
with a terminal illness$ +e ha!e no wa" o# ,nowing what the #uture hol%s$ -lthough it
woul% &e nice to ha!e a cr"stal &all to %etermine our #ate' &eing prepare% #or the el%erl"
"ears with long-term care insurance will gi!e "ou the securit" o# not ,nowing the #uture$
-nother reason that long-term care insurance is important is %ue to the rising cost o#
health care$ I# a home health ai% is nee%e% #or "ou' the cost o# these ser!ices' o!er man"
"ears coul% %rain "our sa!ings$ Pa"ing the premium #or long-term care insurance each
month is ensuring that "ou can li!e com#orta&l" in "our retirement "ears$ I #eel that it is
not a goo% i%ea to rel" on go!ernment programs to ensure m" well&eing$ .e%icare ma"
not &e a!aila&le to me when I nee% this insurance to start pro!i%ing care$ /The %ecision
has ne!er &een more %i##icult$ -ccor%ing to researchers at Georgetown ni!ersit" an%
Penns"l!ania State ni!ersit"' a&out 0)1 o# in%i!i%uals 6( an% ol%er will nee% long-
term care2whether at home or in an assiste%-li!ing #acilit" or nursing home$3 4Tergesen5
I #eel it is worth the cost o# the insurance co!erage &ecause without it this coul% put a
&ur%en on #amil" an% #rien%s$ I %o not want to #eel as i# I am helpless an% ha!e not
control o!er m" healthcare$ I want to &e in charge as much as possi&le$ Ha!ing co!erage
will allow the &ene#its to co!er m" care an% m" #amil" will not ha!e to worr" as much$
The" will &e a&le to go a&out their li!es without ha!ing to mo!e me to their home or ta,e
time awa" to care #or me$ I will ha!e a nurse so the" can ta,e care o# their #amil" an%
mone" will not &e an issue$
I &elie!e that long-term care insurance is a goo% i%ea to purchase earl" in li#e$ I
&elie!e that I woul% start appl"ing in m" ()*s$ I #eel that it is important &ecause the
insurance will allow "ou to not wait till the une6pecte% illness ta,es o!er "our a&ilit" to
care #or "oursel#$ Since we are una&le to see into the #uture this insurance will ease m"
min%$ 7etaining assets an% the growing cost o# healthcare are two more reasons I am in
support o# this co!erage$ - home health ai% coul% cost up to 89: an hour an% the cost o# a
nursing home #acilit" is e!en more$ ;inall" I &elie!e that I woul% purchase long-term care
insurance is &ecause it will gi!e me peace o# min% that I will not &e a &ur%en on m"
#amil" an% #rien%s$
7e#erences
9$Tergesen' -nne$ <.ista,es to -!oi% +hen Shopping #or Long Term Care Insurance$<
Online WSJ$ +-LL ST7==T J>7N-L ' 93 -P7IL ?)9@$ +e&$ 93 -pr ?)9@$