No one ever wants to consider this, but our parents are not as invincible as we thought they were when we were 5. They may be our superheroes, but they are not as full proof as the cape-clad beings we used to look up to when we were younger. What we are trying to say here is that our parents will need long term care in the future, whether we acknowledge it now or later.
As so many find these expenses too expensive to pay out of pocket, they have resorted to coverage like long term care insurance. Unlike Medicare, Medicaid, and health insurance policies, this type of policy specifically works to reduce the weight of costs. Once the care requirements kick in, it acts as the barrier that keeps the policyholder’s assets and savings intact, as well as those of his or her loved ones.