The term “long-term care” refers to the assistance offered to an individual with a chronic illness or disability over an extended period of time. Medicare and other insurance may not cover the care that you need. With long-term care insurance, you can receive the aid that you need from a home healthcare or other long term care provider without depleting all your retirement savings. Deciding to buy long-term care insurance is a personal choice. However, there are some factors that may help you decide, such as: You own a large number of assets or receive significant amounts of income and feel that you wouldn’t qualify for Medicaid. You want to lead an independent life even when you get older. You are able to pay the premiums (you may also be eligible for some tax benefits). You currently have a medical condition or your family has a history of chronic illnesses or disabilities. If you have already been diagnosed with health problems, it may be difficult to get insurance. How Much Does Long-Term Care Insurance Premium Cost? Some factors that determine how much insurance will cost include your age and health status. Although insurers offer policies to those aged 18 - 85 years, the longer you wait to purchase the policy, the more it will cost. The monthly premium for a younger person can be significantly lower than that of an older person, especially if there are health issues. Nowadays, more people are recognizing the benefits that come with having a long-term care insurance policy. Explore products in the market and determine what's right for you!
According to the National Institute on Aging, being intellectually engaged may benefit the brain. People who engage in meaningful activities , like volunteering or hobbies, say they feel happier and healthier. Learning new skills may improve your thinking ability, too. For example, one study found that older adults who learned quilting or digital photography had more memory improvement than those who only socialized or did less cognitively demanding activities. Lots of activities can keep your mind active. For example, read books and magazines. Play games. Take or teach a class. Learn a new skill or hobby. Work or volunteer. These types of mentally stimulating activities have not been proven to prevent serious cognitive impairment or Alzheimer's disease , but they can be fun! Help your mind stay active and tell us what you think about this topic!