LTC Explained – Video 2
At-a-Glance Summary
(“Why Plan for Long-Term Care?” Video – Karp Loshak Long Term Care Insurance Solutions)
Why Long-Term Care Planning Matters
Medical advances mean more of us will live well into our 90s, but longer life increases the odds of needing assistance with everyday tasks. Once you reach 80, statistics show an 80% chance of requiring long-term care at some point.
Longevity & Changing Health Risks
Deaths from heart attacks and many cancers keep falling, yet age-related conditions such as Alzheimer’s have soared—up 145% since 2000. The real financial threat is no longer dying too soon; it is living a very long time while coping with cognitive or physical decline.
Family Dynamics & Caregiver Strain
Modern families are spread out and busy. Adult children often live far away, juggle careers, or face health issues of their own. Spouses may be frail or already deceased, and second marriages introduce additional complications. Without a plan, caregiving duties land on whoever is available, breeding conflict and resentment.
Financial & Lifestyle Consequences
Extended care can drain retirement assets, jeopardize legacies, and force difficult choices about where—and how—you live. Reallocating income or liquidating investments under pressure also triggers unwanted taxes and market-timing risks. In short, long-term care is the largest unfunded risk most retirees face.
Key Takeaways
Proactive long-term care planning safeguards independence, protects nest eggs, and spares loved ones from emotional and financial upheaval. Establishing an insurance-funded stream for future care keeps control in your hands and preserves family harmony.
