Sine Qua Non: Long Term Care Insurance

Sine-qua-non: Long term care insurance


Travis White

No one ever wanted to encounter losing the ability to care for ones self. If there was one thing that one could wish away, it would be the unforeseen financial and personal risks and the exorbitant cost of Long-term care (LTC).

So while we wish our near and dear ones a long and healthy life, there is assistance available to make the latter years of life more enjoyable and more independent.

By definition, long term care is the whole gamut of services, both medical and non-medical, that one would need to take care of themselves over long periods of time.

Thus associating long term care with life or health insurance only is a fallacy. These insurances sure are an integral and a very critical part of long term care.

Long term care also includes daily custodial and non-skilled care activities such as bathing, eating and dressing. Expert nursing care either at a nursing facility or at home too fall within the ambit of long term care.


Care-oriented conditions such as cognitive impairment would also fall under the ambit of long term care.

Long-term care may be needed at any age; however, it is the most pressing need for senior citizens. The latter can make their golden years of life shine even more by taking one simple step, getting covered under long term care insurance.

While the long term care insurance is a boon for the individual concerned, it does a world of good for the family of the individual as well for the simple reason that the senior in the family is not dependent on them, neither financially nor physically.

According to estimates shared by the Centers for Medicare and Medicaid Services (CMS) 12 million older Americans will need long-term care by 2020.

Another study conducted by the U.S. Department of Health and Human Services reveals that forty percent of people who reach superannuation get admitted to a nursing facility at some point in their lives. One-tenth of them stay in the nursing facility for a period of five years or more.

These numbers may not be interpreted as scary. They, however, surely highlight the need and importance of long term care.

Many people, and understandably so, either underestimate the cost of long term care or overestimate the amount that their insurance will pay.

In other words, they are unaware of the financial muscle that is required to see them through the last laps of life. Long term care insurance ensures that the out-of-pocket expenses are kept at a minimal.

Now for some harsh realities of life! The present day demands of work and personal life are such that families are not able to devote enough time to care for the elders. Various studies have suggested that the immediate family members undergo massive emotional and physical strain while caring for elderly relatives.

One does not need more reasons, facts or data to opt for long term care insurance. As age progresses, so does the premium for such an insurance cover.

So, in case of long term care insurance, it is advisable to begin early at a young and middle age and prepare for an eventuality that one would encounter few decades down the line, or God willing not at all!.

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