Many retirees are concerned with the potential need for long-term care. Oftentimes illness and or age may result in a physical incapacity or mental incapacity which requires custodial care. In these cases, many retirees will face a challenge in performing what is commonly known as “activities of daily living.” In some cases, the retirees may have only a minimal to moderate challenge in performing activities of daily living. In such cases, the retiree may thrive in an assisted living facility or in their own home with a home health care employee. However, in each of these scenarios the retiree may be forced to pay a large portion of their wealth for this much needed care. In many cases, a long term care insurance policy may pay some or all of the cost associated with the care for assisted living care, home health care, and/or nursing home care. While many clients may benefit from utilizing a long-term care insurance policy, others may not. There are many variables to consider when determining whether or not this type of insurance is best suited to protect assets and lifestyle.
Andover MA Elder Law Attorney Tobin counsels and advises clients as to whether the private long-term care insurance is appropriate for each client on a case-by-case analysis.