As a parting gift for 2014, here are a few of our top posts that spurred the most comments, shares and likes. Enjoy!
When I was only 16 years old, my father passed away after a short illness. My parents had never purchased life insurance, so the only help we received was from the Department of Veterans Affairs, since my father was a disabled veteran. I think we received approximately $2,000. My father’s funeral cost at least double that figure.
My mother was now saddled with grief, debt and an uncertain future. I watched her hand-wring over how she would pay for the funeral. She didn’t know if she could provide for my sister and me. She freely admitted that we probably wouldn’t be able to keep our house. My sister was in college and my mom didn’t know if my sister would be able to stay there. My own college career was in deep jeopardy.
My father didn’t have adequate life insurance coverage. I have had to grow up quickly and work to help my mother. Had my father had life insurance we would not be in the position we find ourselves today. His death has made my future plans to attend college even harder to achieve. With the values my parents taught me, I have worked hard to achieve high academic accomplishments .
The true cost of long-term care, however, goes far beyond just the dollars and cents of out-of-pocket costs. The indirect costs can have a drastic impact on a caregiver’s physical and emotional health, career and even their family relationships. This is something I learned firsthand in my experience as a caregiver.
But my story is not unique. As many who have cared for a loved one can tell you, this is a common experience for family caregivers. Unfortunately, most families only explore long-term care options when care is needed, which magnifies the impacts of caregiving.
It’s Long-Term Care Insurance Awareness Month. Stop! Before you come to the rash conclusion that “It’s nursing home insurance for old people. I don’t need that!” please just spend two minutes with this video. (And know that 80% of people who need care get it in their home!). Plus we have 10 “tweetable” facts about long-term care and long-term care insurance.