Wednesday, October 29, 2014

Boomer Watch: Coming to Age - Baby Boomer's Long Term Care Needs

Gone are the days when people will just have to stay with parents or grandparents and live with them for the rest of their lives, as the boomer generation have changed the way the society view aging and end of life issues.

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Being the largest and most of the times regarded as the wealthiest generation, the boomers are still struck with critical financial issues in terms of health and long-term care, the changes in family dynamics have largely affected the cultural awareness, with more and more people living longer and women getting into the workforce instead of staying at home. Although family still plays a major role in  providing unpaid caregiving services, the necessity of planning for future long-term care needs is still significant.

Long-term care insurance is a crucial planning tool that is often overlooked, it is much less expensive than what most people think because you are able to manage and cover a big risk of incurring large out-of-pocket-expenses by paying a more affordable monthly premiums.

Completelongtermcare discusses the reasons why baby boomers need to think about long-term care differently and why long-term care insurance is needed more than ever.


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