Thursday, August 1, 2013

Genworth Financial Can Help with Long-Term Caregiver Questions and Needs

Disclosure: Information for this post is sourced from Genworth Financial in partnership with SheHeard Influencer Network. All opinions stated, however, are entirely my own.



Very recently our family lost someone very near and dear to all of us. She was a woman with a strong personality, and had many characteristics and traits that made her delightfully unique. She was also one of those people you just thought would be around forever.  I'm not sure why that is true, but in her case, it certainly was, and I'm not the only person who felt that way.

When she began her downhill health spiral a few years back, and the signs that her health was not infallible made themselves very clear, one of the things her children did was consult with one another to determine who would be in the best position to provide her with assistance or become her permanent caregiver if needed. The second oldest daughter was selected and agreed to step up, with agreement from her siblings to help as needed.  The decision made sense for many reasons and ended up being a good one.

Unforeseen challenges, however, arose for the siblings. There were instances that qualified as difficult (to put it mildly) for both sides (the mom and the adult children), but for the daughter who ended up taking care of her mom, some of the surprising ones were as follows:

  • The costs of becoming a full-time caregiver for her mother were staggering. Co-payments, prescriptions, a special diet, her mother's bills, lost wages, and so on and so forth left the daughter scrambling to make ends meet.
  • The daughter's retirement/travel plans were put on hold. Not knowing how long she would need to care for her mother, or to what extent she would be needed, all travel and retirement plans were instantly put on hold.
  • Work relations became strained for the daughter. Even though she was a loyal, long-time employee, all of the time off, late entries (or the need to leave early), and adaptability needed to accommodate her mother's doctor appointments and hospital visits left her boss and co-workers very unhappy, despite their understanding of the situation.
  • Exhaustion came to visit and did not want to take leave. Even with help from the siblings, the daughter was burning the candle at both ends, so to speak, and became overwhelmingly and constantly tired.
As noted in the article, Caregiver Lives Rerouted Yet Enriched by Aging Parents, there were many benefits to the care giving arrangement as well. The daughter learned a great deal of family history that she had previously not know; she took great comfort in knowing her mother was able to be in safe, loving hands that were familiar to her; and the already strong bond between mother and child was further cemented in ways neither could have ever predicted or known.

Though the rewards are plenty, as noted above, taking care of a family member full-time can also be a very difficult and trying situation. That is true in even the best of financially prepared households, but is especially understood when finances are not as predictable. 

So what can be done to make things easier, should the need arise to become a long-term caregiver for someone in your family? Consulting a reputable source, such as Genworth Financial is a great first step. 

Getting that help to sort through the tons of information out there and learning how you can take proactive steps to ensure a smooth transition, should the need arise, makes a lot of good sense. Doing it now could make a world of difference in providing benefits later, perhaps in ways that you might not even yet know or consider. For some things it pays to plan ahead, even if it's for the 'just-in-case." Planning ahead financially for the long-term care of a loved one, is easily one of those things.

35 comments:

  1. Thankfully I have some time before my parents will need any kind of long term care (fingers crossed). This is great information.

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  2. ah these are things we dont want to think about but def need to consider before the time comes...my parents but just reached retirement age and we will need sometime in the future so...

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  3. I work at a financial company as well and LTC/DI are such important products for people to own!

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  4. Rosey
    I thought the time of caring for parents had long passed. When I was young, it was expected that children care for parents but with the advent of the nursing facility, I thought this had become a thing of the past. Also, with both man and woman working, there seemed to be no one to care for family members. I applaud your family for sticking to the old family values and providing love and comfort for an aging parent.

    That is one reason I live a life of natural health. I don't want to become a burden to my family, although we can't predict what the future will bring. My son built an adorable apartment in his hew home ...... for me, whenever I am ready. That would give me privacy and I'd also be near family. I'm definitely not ready for that, yet but it is "our" plan. I think your family is wise and that every family should have a plan. A good post.

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  5. I am hoping that we don't have to worry about this with my parents. My grandfather is paying his own way during his assisted living and now memory care living and has enough money to continue paying for it. If my parents take care of the money that they will inherit they too will have enough to take care of their care.

    My Hubby's parents were fortunate enough to have his father's wife to take care of him and his oldest sister took care of his mother for the short time frame that they needed care.

    My Hubby and I on the other hand will be a completely different situation I am sure.

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  6. Excellent post giving serious food for thought Rosey! Thanks for sharing.

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  7. This is a tough issue - one that many children of aging parents face. In fact, my mom started an assisted-living nursing home just to address this issue and has taken care of many people. Of course, for my siblings and I, we still wonder what we're all going to do as our parents get older: despite them running a nursing home, they will not talk to us about their plans. It's quite frustrating.

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  8. Thank you for this info! I saw the hard time my parents had with my grandmother, so this is helpful!

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  9. We're going through this with my g-ma right now, Its so tough. thank you so much for sharing!

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  10. All should have some short of plan. Me, throw me in one of those assisted living places haha only have two family members left that may fall into that too. so we shall see.

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  11. Hubby and I think we've got everything taken care of here. We're hoping so anyway. We are taking care of hubbies mother and that's working out well so I'm guessing we've done all the right things for us too.

    Have a fabulous day my friend. ☺

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  12. It's so hard to think about, but yet it's super important that we have a plan in place early on.

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  13. It amazes me the amount of people who don't have a plan in place. I certainly don't want to be a burden on my family should something happen. This is so, so important to think about and get something in motion before it's too late!

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  14. i agree with all those that have posted before me...

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  15. This is a good post Rosey. My mom and my aunt were basically the sole caregivers of my grandpa the last few years of his life. He had Alzheimer's. And since my mom was living the closest to him, she had to take him to many of his appointments and visit him when he eventually went to assisted living. It was hard on her, especially since she didn't always like to see him in the state he was in.

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  16. this is a topic I'm seeing my Mom and her Bro's and Sis's going through right now....going to pass this info along

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  17. Shared it! I really hate thinking on it, but it's better to get it sorted out. Thanks for a great info!

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  18. My Mom is in pretty good shape considering she will be 91 in November--she still drives and lives alone. I do attempt to cut back on her driving by taking her out shopping at least once a week! She never did get LTD ins and it is too late now-as for me-I have no children so I guess a nursing home it will be.

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  19. I'm hoping the time for this is long off since my parents are only 67, but it is really something to think about. This is really helpful information!

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  20. We may be looking into this very soon. My Hubs parents are in their 90s and not doing so well.

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  21. It's good to know there are resources like Genworth Financial to turn to when it comes time to consider long term care for our parents.

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  22. Wow. Lucy was just talking about her aging parents and aunt on her blog.

    Very good information.

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  23. My father suffered a terrible stroke 7 years ago and was left paralyzed and unable to speak. My mother took on the burden of caring for him and thanks to years of saving, has been able to keep them afloat. LTC is so important! None of us wants to imagine the worst, but it helps to be prepared.

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  24. My dad has been very sick since January. I am lucky that he has a pension, but since I do not have any siblings everything else falls to me. Since I stay at home it is easier for me to deal with things, but I am younger than most people having to deal with similar situations. My dad was almost 40 when I was born so at 35 he is already 73. Great post!

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  25. Great post. There should always be a plan in place for this situation... so we know what we plan on doing when that time comes.

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  26. Really great - wonderful to get people talking about some of the hard topics that people need to think about. Good suggestions to get a plan in place.

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  27. Oh my, this is scarey, as my husband and I just became the primary caregivers to my dad. He is now living with us and not doing too bad...yet. Bookmarking.

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  28. We sadly had to say goodbye to my great aunt last week. I know her sons were going thru this. My parents aren't there yet, but one day...we too will be talking about this and planning. Thanks for the info. It's tough.

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  29. Sorry for the loss in your family. As hard as it is to see now, you are right that proper planning is needed.

    Ai @ Sakura Haruka

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  30. great advice and thanks for stopping by!! xo

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  31. This is so important and not thought of too much. Thanks for sharing this post.

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  32. I know that one day one of us girls is going to need to help my mom...but I hope were a long way off from that; cause we're still helping her parents...

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  33. Our family has a caregiving company. It's definitely really helpful, both for the family and the one needing care.

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