Are You Protected? Why Long-Term Care Insurance Is Key

With the myriad solutions available in the marketplace, it’s hard to know which one to pick.

Work & Money | January 3, 2022

By Natalie Karp and Rona Loshak

Leading parallel lives living as young married women with corporate careers and earning MBAs, we became new moms and part of the “sandwich generation.” This profile was not just a description of multi- generational caregiving but dictated a weight of responsibility.

Our parallel lives soon included widowed mothers: Natalie’s mom with a Parkinson’s diagnosis and without the ability to purchase long-term care (LTC) insurance; and Rona’s, who was able to secure a valuable LTC insurance policy and protect her daughter from becoming a caregiver.

Translation: Rona’s mom would have private, tax-free money to provide for extended care, enabling her to remain in her new apartment as a widow without burdening her family, while Natalie’s had no protection. Without private insurance, choices would be limited and resources scarce. The burden fell on Natalie— financially and emotionally.

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