Long Term Care problems Solved
Ask the expert, Dennis H. Lentin

Questions to ask your children before buying Long Term Care Insurance.

Last month we talked about the ten reasons that people do not buy Long Term Care Insurance. Some o those reasons were a little sarcastic. We find that the main reason is that people, who want to buy Long Term Care Insurance, usually ask their children what they should do. In most cases the children don’t have the slightest idea of what taking care of their parents is all about. So, when you ask your children if you should buy Long Term Care Insurance, also ask them the following questions:

1. If one of your parents had a major illness, are you prepared to put your life on hold to provide the necessary round the clock care?
2. Are you ready to end your career to provide care for your parents?
3. Are you trained and do you have experience in providing care to the elderly?
4. Are you aware that research found that care given by a family member was inadequate?
5. What would happen to your children, if you had to care for your parents?
6. When are the circumstances proper to send your loved one to a nursing home?
7. How would you pay for the cost of a nursing home?
8. Do you know that Medicaid will not pay for home care?
9. Do you know that Medicaid will not pay for Assisted Living?
10. Do you know that your parents have to be broke before Medicaid will take care of them?
11. Are you prepared to spend all of your money to avoid your parents going on welfare (Medicaid)?
12. Are you prepared to accept a lower standard of care for your parents?
13. Are you ready to gamble the future of three generations?
14. Are all the siblings in agreement as to who gets to do the necessary things required? (History shows that children seldom agree on what is correct, for their parents.)
15. Now that you have read all these questions, do you still want to ask your children or do you want them to buy Long Term Care Insurance for themselves?

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Dennis H. Lentin
DL Financial Consultants
3852 Black Forest Circle,
Boynton Beach, Florida 33436