If you fail to plan...

Okay. I get it. It's an old and overused expression - if you fail to plan, you plan to fail.

When I owned my home care agency (for over a decade!), we exclusively served clients who paid privately. The always fell into two categories - those with and those without Long-Term Care insurance.

Now, Long-Term Care insurance isn't what it used to be. Today, asset-based "hybrid" Life insurance or even Annuity products with long-term care benefits are the best solution for most people. The clients I served with Long-Term Care insurance had older, stand-alone plans. And they paid.

So the group of clients with Long-Term Care insurance immediately realized the value. Their plan was now in full action and they reaped the benefits, getting a return on their premium paid of many fold (10 or even 12 times what they had paid in premium!). It wasn't uncommon to hear them say that even though they hated paying the premium, they felt it was the best "investment" they had ever made. Their adult children were also completely sold on the benefits. And this is with the old policies! Before the changes to the current "hybrid" policies!

The other group also worked their plan. In most cases, a spouse or adult daughter was the primary caregiver until either there was a situation where that simply wasn't possible anymore or the amount of care exceeded what could be provided. In either case, when my agency entered the picture the family had suffered intense emotional, physical and financial stress. And, like the other group, the adult children - particularly if they had been serving as caregivers - saw the need for their own long-term care protection.

Nobody wants to be a burden on a spouse or children. Sadly, the failure to plan is the norm with regard to an extended care situation. And sadly, even if it hasn't been discussed, most people privately say that their plan is for their spouse to take care of them. Or an adult daughter. Quite simply, that is the chosen plan whether it is reached through a lack of planning or a conscious decision.

Now, to be sure, both groups of clients - those with and those without Long-Term Care insurance - felt the emotional strain that comes with an extended care situation. My experience is that this particularly true when the situation involves some form of dementia, but in any case, the emotional reaction was largely unavoidable.

To some extent, both groups of clients also experienced physical consequences. I could write another book (years ago I had a book published on Home Care - Finding Freedom at Home) just on the husband or wife who absolutely got worn out caring for their spouse. More times than I care to remember I saw the caregiver spouse get sick or have an accident or (and statistics show this is the norm) predecease the spouse he or she was caring for. I also saw family relationships crumble as demands on the children and spouse increased to the point of physical impossibility.

The good news is that based on my experience and expertise in home care coupled with my knowledge of the very best asset-based "hybrid" Life insurance and even Annuity based products with long-term care benefits, there is a solution. There is a solution to the planning quandary. I think everyone agrees that the plan of not planning is never the best plan in any circumstance.

Understanding some of my background and knowing the two paths available, let's schedule a time to talk. I'll be interested in hearing how you intend to be cared for and where you intend that care to take place. I'll want to know your thoughts and goals for aging with dignity if you don't beat the odds and you do have an extended care situation some time later in life.

Based on information gathered and shared, I'll custom tailor a few strategies for you to consider. There is no obligation and - maybe best of all - my consultation is free. You see, I'm passionate about what I do because I've seen earlier models of Long-Term care insurance in practice. And I've seen those who didn't plan.

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