Wednesday, November 5, 2014

Boomer Watch: Long-Term Care Awareness Month Dedicated to Baby Boomers

There isn't any better opportunity to begin discussing long-term care with your family than today, in connection with the observance of National Long-Term Care Awareness Month, baby boomers are encouraged to start the conversation and plan for long-term care.

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Waiting too long may put you and your family in a catastrophic situation once you realized that you have very limited options for covering long-term care expenses when the need already arises. This is something that boomers often fail to recognize, once they hit retirement age, there is a possibility that they might have to live two decades more which eventually puts them in a higher risk of needing long-term care.

This November, boomers should be more responsible to review and analyze their long-term care plan, if they don't have one, now is the best time to start creating a plan. There are approximately 79 million baby boomers in the US and this month is dedicated to increase long-term care awareness to both retirees and baby boomers.

Insurancenews urged baby boomers to consider long-term care planning during the awareness month. Planning entails a complex process, each person's need and preference is unique, therefore planning should be made the same way - unique and relevant to each boomer's personal circumstances.

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