Long-Term care planning and insurance is something that many individuals think about and know that it is something that they must do as part of good financial planning.
The scenario goes like this.
Usually, the individual or couple begins doing some research on what is long-term care and what does long-term care insurance do to benefit them.
There is so much information on long-term care financing, planning and insurance that it becomes overwhelming and produces feelings of anxiety.
Nobody likes this feeling so to make it go away they procrastinate.
Procrastination is a behavior which is characterized by the deferring of actions or tasks to a later time.
Psychologists often cite procrastination as a mechanism to cope with the anxiety associated with starting or completing any task or decision.
Why is procrastination so closely associated with long-term care planning and insurance? Nobody ever wants to imagine themselves in a situation where they are going to need help with the activities of daily living.
The activities of daily living are really the activities we do every day and take for granted.
They are simple tasks like eating, dressing and getting in and out of a chair.
No one wants to picture themselves in that situation.
So, what does one do..
..
Procrastinate.
There is way of reducing the anxiety that is produced when approaching this subject.
It is important to consult and get the information from a Long-Term care specialist with designations in long term care financing and planning (LTCP and CLTC).
The information will be presented to you in a manner that you will be able to understand and ask questions as it pertains to you and your family.
Long-term care insurance is not a "one size fits all" product.
It is important for you and the long-term care specialist to communicate what is important to you when designing a plan.
The long-term care specialist will also be honest and forthright and telling you if this type of coverage makes sense for your individual financial situation.
The stress and anxiety that is produced from thinking of something unpleasant diminishes instantly once a decision has been made.
Sitting on the fence and not acting can produce more anxiety, guilt and stress.
Individuals actually breathe a sigh of relief once the long-term care insurance policy is designed and an application is put into the company.
Procrastination can be the most costly enemy when it comes to purchasing long-term care insurance.
As you age, the premiums go up and as you age your health begins to decline.
So, the bottom line procrastination can increase your premiums or you may not qualify for the coverage due to your health.
In conclusion: o Find a Long-Term Care Specialist, one with additional education and training in long-term care financing and planning.
o Make an appointment to get all the information about long-term care and long-term care insurance o Find out whether or not Long-Term Care insurance makes sense for you.
o Design a long-term care policy that is affordable You wouldn't wait to get homeowners insurance until your house was on fire.
  It sounds ridiculous, doesn't it? Well, it's the same with long-term care insurance.
Don't wait until you'll need it, because you won't be able to get it.
It's not the wise thing to do.
In the end, you'll be glad you did.