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Saturday, January 24, 2015

Avoid Stress By Having Long Term Care Insurance

Caring for love ones can cause a great burden within a family.

Daughters are more likely to provide care than any other family members, according to University of Michigan Health and Retirement Study. The research suggests that in families with children of both genders, sons will reduce their time spent with their elderly parents while daughters increase that time to compensate for their brothers.

That lack of participation by one or multiple siblings can cause discord within a family, but proper planning can cut the family feud short, said Stacia Vetter, assistant vice president at National HealthCare Corp.

Vetter is an insurance broker specializing in long-term-care insurance who also has a policy for her parents.

Unlike traditional insurance, long-term-care insurance is designed to help families with the financial burdens of aging by providing funds on a daily basis for long-term care, she explained.

"We are living longer, and we are living longer with chronic illness," Vetter said.

Long-term care is needed when an individual cannot do normal daily things—like eating, bathing, dressing and driving—without some kind of help, said Vetter, a long-term-care insurance specialist.

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