Your parents have been in your corner for as long as you can remember. They’ve always rooted for you, loved you and supported you in both times of good and bad. You made a vow to yourself long ago that you would care for them when they got older, just like they cared for you.
In theory, this doesn’t sound difficult, but in reality, taking care of an elderly parent, even one who is self-sufficient, can be a nightmare if you don’t know what you’re up against.
Today’s post will delve into four things that life insurance with long-term care can prevent when you bring in your parents in your home to live with you.
1) Allows you to live a disruptive-free life: Your parent(s) may have received a clean bill of health before they moved in, but that doesn’t mean things will stay that way forever. Lisa Wendt thought the same thing, too. Her father didn’t have Alzheimer’s and was still pretty mobile when he moved in with her family at age 83. However, he did have dementia, which got worse after he moved in, severely limiting Lisa and her husband from going on vacations or even leaving the house for more than a few hours at a time.
If Lisa’s father’s life insurance policy allowed for the option of long-term care payments, she and her husband wouldn’t have had to stay tethered to their home.
2) Doesn’t put unnecessary strain on your marriage and family: As you can imagine, becoming a full-time caregiver and not being able to freely leave your home as needed can raise the tension levels to uncomfortable heights, which is what happened with Lisa and her husband. Her father’s presence not only caused some tension and fighting with her husband, but her father’s deteriorating mental state also made him more agitated, causing arguments between Lisa and her father as well.
A properly trained home-health care aide or private nurse would have been equipped to deal with the progression of Lisa’s father’s condition, which would have eased the stress in Ms. Wendt’s home.
3) Ease your own stress with a caregiver: Tension and stress don’t just exist externally; they live within all of us as well. It didn’t take long for Lisa to internalize the stress that was building in her house, and her own well-being began to breakdown.
When you pay a caregiver, they can focus all of their attention on your parent, relieving or eliminating the stress and tension that lingers within your home.
4) Live out your dreams: Do you still have dreams and desires that you want to fulfill after you retire, like owning a restaurant? If you have a little nest egg saved up, it’s possible to turn your dream into reality. However, if you have one or more of your parent’s living with you, that money might need to go toward medical bills and care for your parents. That’s what happened to Lisa’s husband: He had to put his dream on hold because his father-in-law’s bills were adding up. Lisa and her husband both had to work longer hours to compensate for the extra expenses.
As an adult, it’s admirable to want to take of your parents just as they took care of you when you were a child, but becoming the sole caregiver for a parent can often do more harm than help.
Do you want to have the option to bring in a trained professional into your home to care for your parent should the need arise? Find out what type of coverage you need with a no-obligation life insurance quote today!