Long Term Care
Long Term Care is needed
when a person becomes ill or has a disability that makes
them unable to carry out their activities of daily
living, with the probability that this disability will
continue over the long term. Quite often, it is the
elderly who require care over the longer term because of
increasing frailty due to ageing or the effects of a
stroke or a fall.
Long Term Care can also be required for people suffering mental
illness such as dementia or Alzheimer's Disease. A person
suffering from dementia will need personal supervision and
assistance to carry out normal daily activities.
The care required can take many forms, from simple domestic
assistance to medical interventions and may be provided in a
residential or nursing home or in the person's own home. A
residential care home does not provide nursing services which
are provided by the NHS or nursing homes.
Many people would expect the National Health Service to look
after them. But the NHS no longer covers all the costs
associated with the care of incurable conditions in old age. We
are all living longer and unfortunately, this increased
longevity is not always matched by increased good health in the
later years and there is a high probability that some form of
long term care will be needed. In fact approximately 47 percent
of people of 75 have a long standing illness that limits their
lifestyle.
In addition to the demographic trends, social and political
changes are also contributing to the need for people to
consider some kind of provision. The growing pressure on local
government spending means that Social Services departments will
no longer automatically pick up care bills. The NHS will only
provide and/or pay for the Nursing Care Service Component of a
person's long term care service needs. All other costs and
services associated with long term care are the care
recipient's responsibility unless they qualify for Local
Authority assistance.
It is therefore important to consider options to
provide income for Long Term Care. Long term care can be
covered completely or in part by long term care
insurance. Most plans let you choose the amount of the
coverage you want, as well as how and where you want to
use your benefits. A comprehensive plan includes benefits
for all levels of care, custodial to skilled. Some
options that could be considered are:
• A pre funded
policy
Could be ideal if you don't think you'll need care for quite a
while. You can pay in one lump sum or make regular
payments.
• An immediate need
policy
Useful if you need to pay for care
straight away. You use a lump sum to buy an annuity. The income
from this then goes towards your care.
• Home Equity Plan
Whether you or your partner go into a nursing home or receive
long-term care in your own home, this plan lets you use some of
the value of your property to pay for it.
For everyone, long term care is an issue that simply cannot be
ignored. Avoid having to use your lifetime savings or selling
your home, discuss your options with one of our specialist
advisers.
For more
information call now on 0845 643
5056
| 