From what I’ve studied, about 70% of us who reach age 65 will have a time when we need some sort of assistance with our “activities of daily living” (bathing, meals, walking, etc).  It may be physical or cognitive impairments that cause us not to be able to enjoy living independently as we age.

The breadth and depth of options for long-term care are expanding and will continue to do so as those from the baby-boom generation reach retirement age in greater numbers.  Care takes place not just in facilities, but at home as well.

Since I entered the workforce, I’ve been continually engaged in one form or another in finances.  In those 32 years, I’ve come to believe that facing economic reality is the hardest step for any company or individual when planning their finances, followed by having the courage to act on a plan to address what was learned.

Recently I received a great handbook that walks through the issues of cost, needs, and options for long-term care assembled by the National Association of Insurance Commissioners (NAIC).  The booklet is called A Shopper’s Guide to Long-Term Care Insurance.

The part about buying insurance isn’t what I found helpful in this booklet.  What I liked about it is that simple language is used to reduce very complex topics to easily understood bits of information.  I think everyone who is nearing age 65 or who has a family member or friend nearing retirement age should get a copy, even if they have no intention of purchasing an insurance policy.

You can reach the NAIC at 816-842-3600.  I received my copy of the NAIC booklet from Jennifer Lauritsen at Thrivent Financial in Ottawa at 785-229-0891. -

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