What to do now to be ready for tomorrow's reality there

generations, it was recognized that older parents would be supported by their adult children, women (aka "housewives") handle most of the physical and emotional burden. It was also a time when the siblings and members of the extended family lived nearby, ready to intervene if necessary.

But times have changed, and families are rarely in the same state, let alone the same ZIP code. and women, although stil t carrying most of the burden of caregiving (66 % according Caregiving in the US), in many cases are also used outside the home.

Add to that the rising cost of assistance provided by professionals (estimated at $ 43,000 to 70,000 $ annually for eight hours a day for health care alone) and it is no surprise that the cost of providing care can keep both neat and caregiver to sleep at night.

According to an AARP study, about 42 million people in the US have provided care for an adult family member at some point. But this unpaid support is a cost - physical, emotional and financial. For example:

• Studies show that caregivers females are more likely than men to suffer from high stress due to caregiving (35% against 25%)
• 70% of working caregivers. suffer from difficulties at work because of their dual role of caregiving.
• 23% of caregivers have been providing care for five years or more say their health is fair or poor.
• 12% percent of caregivers reduce work hours or took a less demanding job, while 9% gave up work altogether, compared to 3% who took early retirement.

If you plan to provide care of a parent in the course of the future or if you want to avoid being a burden on other family members, there are steps you can take.

Learn the facts about long-term care. LTC fall into three categories: men, middle and caretaker. These types of services and procedures are generally not covered by medical insurance of a person, but would be paid under a long-term care insurance policy.

Skilled care (generally provided by nurses or professional therapists) helps you recover from a serious illness or injury with treatments or daily therapy. intermediate care is similar, but not necessary on a daily basis. custodial care, however, does not focus on recovery, but to provide assistance with daily activities: bathing, eating, dressing and other personal and medical care, and can range from home care provided two or three days a week , 24-hour nursing care.

Discuss your financial situation with a counselor. If you can afford the cost of long term care without significant impact on your assets, you can choose to cancel the purchase of coverage. And for those with assets (excluding your home) of less than $ 80,000 if you are married or $ 30,000 if you are single, you may not be able to pay the premiums.

If you fall somewhere in between, the assurance of long-term care could be money well spent, protecting your economic health while covering the cost of treatment for your wellbeing physical.

Consider long-term care insurance purchase. Here are two numbers to note: 70% and 40%. According to statistics, there are 70% chances that you will need some type of long-term care after 65 years: at home or in a nursing home. And if you think something you only need to worry about once you hit your "golden years," that 40 percent of patients receiving long term care are age 65 or at the following an accident or because of a debilitating disease.

for example, property management Barry Shore was diagnosed with Guillain-Barre syndrome at age 55, and after a year, was still unable to walk or work. Fortunately, her care insurance long term more than covered its home care, and the other not covered by their medical insurance treatment. Here you can see its history.

Keep in mind that the premiums of the policy are the younger you are when you purchase coverage, and generally do not increase with age, unless an insurance company raises for a guaranteed class.

For more information, see the long-term care insurance section on the LIFE website. Then discuss your options with your insurance advisor.