Tuesday, July 2, 2013

Information and Help for Long-Term Care is Made Easy with Genworth Financial

Disclosure: Information for this post is sourced from Genworth Financial in partnership with the SheHeard Influencer Network.


We have an extended family member in the hospital. She is older and has some medical coverage, but her health is really beginning to deteriorate. All of her children are grown, and have been helping as best they can, but they work full-time too. This leaves her unattended for long stretches of time, which is no longer a viable option.

As noted in Ann Carrns article, Buyers of Long-Term Care Insurance Prefer Home Care, her concern and the concern of her children is not whether or not her Long-Term Care can cover her costs in a nursing home, but rather if it can cover her medical costs outside of one.  She has long since given up her own home and takes turns (by choice) living with her children, and that is what she would like to continue to do. Her family is all for it, if she has assistance during the hours they are not able to be present in the home with her. That means it's time to pour over her long-term care policy and see what it does and does not cover.

If you do not have a policy, or are looking to switch or improve upon an existing one, looking to Genworth for information, clarity, and/or your current or potential coverage needs makes good sense. No one wants to shoulder the high cost of medical care alone, nor do they want to burden their loved ones with such a responsibility, and a long-term care plan can certainly help. The earlier you have a plan in place, the better, and you want to make sure you're setting up the plan you really want, need, and can afford. Genworth can help you sort through the sometimes complex information and gain a better understanding of what type of policy would work best for your individual situation or circumstance.

51 comments:

alissa apel said...

This is so important. For the longest time I didn't have Life Insurance. I feel so much better now that I do!

Pat Hatt said...

Yeah not even up here is that free, I don't think

ValeviL said...

Thank you for this post! =)
I enjoyed the information you write!

Z said...

:) another superb post Rosey. I love follwoing you and having you as a friend.

Mommy's Heart said...

This is great information.. I am so ashamed to say that I do not have a 'full-fledged' fife insurance'- just the basic one from work.. I will definitely look into this. Better late than never, right :)

Kera @ Nugget On A Budget said...

My husband and I are finally setting up a life insurance policy through his work. Now that we're going to have two babies, it's so important.

Katherine Sullivan said...

We have been talking about this too, I think it's SO important because you just never know what can happen.

Tammy Graham said...

This is something that Hubby and I need to start looking into because I do not want to be a burden on our daughter. It's amazing how times flies right on by on us and before we know it we will need this type of care and we will have nothing in place. Thanks for sharing.

My Journey With Candida said...

We are not getting any younger and I really need to be checking into something....

Monica said...

Life insurance is soooo important. Thanks for sharing - this is also helpful in terms of thinking of my parents.

Sandee said...

We did this for our parents and it's money well spent. Well spent.

Have a terrific day. :)

The Harried Mom said...

Both my parents worked for a life insurance company so it's always been a priority in our financial planning!

Rita VonCoupon said...

Really great information. I think we often put these off because they seem confusing and scary.

mail4rosey said...

It is a relief to know your ducks are all in a row as best you can get them, I agree.

mail4rosey said...

The costs of long-term care are astounding, aren't they???

mail4rosey said...

Thank you for reading!

mail4rosey said...

Always happy to see you, you're like a ray of sunshine you're so happy all of the time. :)

mail4rosey said...

It's always good to be proactive with health care for sure because health problems are something we really can't predict or know. Long-term care is costly, so it makes sense to plan ahead if we are able.

mail4rosey said...

Glad to hear it, Kera. It feels good, doesn't it? I'm not sure my mom has long-term coverage, but I'm going to ask her.

mail4rosey said...

Right! But it is easy to predict a potential hardship (financially) if something does happen, just because long-term care is sooo not inexpensive.

Thank you for visiting!

mail4rosey said...

Agreed, Tammy. Time does fly faster than we can predict and it's definitely better to be prepared for the 'just in case.' It could be very detrimental if we're not and something does happen, for us, or like you said, our kids...and nobody wants that to come to pass, I'm sure.

mail4rosey said...

I hear ya, Terry. I know hubby has this coverage through his job. I used to, but not since we moved out of state and I left it.

mail4rosey said...

I'm thinking of my mom too! Thanks for visiting.

mail4rosey said...

I do not doubt it for one second. Glad you got the coverage before you needed it. :)

You have a terrific day too.

mail4rosey said...

Ah, the beauty of experience being in the family. :) Thanks for your visit!

mail4rosey said...

It really can be complex, and it's super nice to have someone there to explain it to you in layman terms who understands what's being said, inside and out.

Thank you for your visit!

Masshole Mommy said...

Awesome info. I have basic life insurance because I need to have something for the kids in case anything happens to me, but it's a minimal policy.

mail4rosey said...

It's better to have minimal than nothing, for sure!! I keep wondering how easy it is to upgrade to a better policy as you go (or if you get what you buy, period), I guess it's time to check into it.

XDannellys Colon said...

I always hate talking about this but I really can't prolong it too much. I really have to look into it so that everything is covered. Thanks for sharing this post to actually push me into doing this.

mail4rosey said...

Thanks for reading. The Genworth site is pretty comprehensive and has a lot of great advice/tips/ideas.

Jennifer Van Huss said...

This is a must for me!! You never know what will happen and i need my kids protected!

Kristi Maloney said...

Insurance is so important to have in place. We learned this the hard way, when we rented an RV and did some damage to it. umm..we didn't get the insurance! Different insurance, same idea! :)

Theresa said...

Definitely very useful information! It's so important to plan for our future. I was just reading a story where a lady didn't have any life insurance and her grandson sat outside selling Kool-Aid to raise money for her burial. I don't want my family to have to worry about my final expenses when I am gone. Now is the time to plan and save!

Danielle @ We Have It All said...

Great information, thanks for sharing. This is not a topic we like talking about but it much needed. My husband and I have policies along with our kids, but my mom does not which worries me.

mail4rosey said...

I agree it's very important to have it. I don't want to potentially saddle my kids (or hubby) with health care costs because I didn't plan ahead.

mail4rosey said...

If we fly in somewhere and rent a car, I always want the best insurance, just in case, and hubby always wants the minimal, lol. Really, you just never know and it's better to be safe than sorry!!

mail4rosey said...

Aww, that's a sad story. How wonderful of the grandson, but what a burden for it to have to get that far into the family. :(

mail4rosey said...

I haven't called my mom yet, but I'm thinking she's not got long-term. She probably won't want to talk about it, but I'm going to try.

BlogWithMom said...

Thanks for info, this is very important. You don't want something to happen to you when you haven't planned ahead. This is great info for everyone. Thank you for sharing.

Bobbie Anne

mail4rosey said...

Thank you for reading!

Scribbles said...

Great post

mail4rosey said...

Thanks for the visit.

Stacey C said...

I will definitely check this out. My parents are getting to that age where we have had discussions on what they would like to happen. It is a tough subject but one that we all have to face. Thanks for sharing.

Momma Lew said...

Such great info. Something no one wants to think about, but we all need to! Thank you!

Marissa McKenna said...

Great information! My husband and I were just discussing life insurance yesterday and how we need to look into all of our options. It's scary stuff to think about, but it's even scarier to think of what could happen if you don't have the right coverage!

couponwahm said...

Great post. Thanks for sharing this much needed information.

mail4rosey said...

Thank you for reading, Stacey. I'm glad you're going to look into it. They have a ton of information available.

mail4rosey said...

Agreed, it's at least important to research and consider. The costs of medical care are high, especially if we're talking long-term.

mail4rosey said...

I agree. 'An ounce of prevention is worth a pound of cure' certainly rings true with something like this.

mail4rosey said...

Thanks for reading/visiting!

Clare Rigby said...

We all want to be able to take care of ourselves for as long as possible, but if you're in need of some help living independently or are considering moving into a nursing home or senior housing, you may want to keep the high costs of long term care in mind. An insurance conversion can make it easy to pay for the care you need - and give you something priceless in the bargain: peace of mind. Find out more on answers.yahoo.com/question/index?qid=20130730175121AADN1Us - LTC insurance costs