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Take The Long Term Care Planning Test

Take the Long Term Care Planning Test

To evaluate how much of a plan you have for your long term care, answer yes or no to these ten questions. Long term care is defined as care that is needed for more than 90 days. Given that life expectancies are longer than ever before due to medical advances, the need for long term care can be years, not merely 90 days. This test will tell you how prepared you are in having your long term care needs met.

1. Could it be that someday you will require long term care?

2. Do you know how much it will cost to pay for your care costs over an extended period of time?

3. Have you asked your family if they would provide you with daily are if you needed it?

4. Have you considered where you would live if you needed long term care on a daily basis?

5. Have you discussed with a professional advisor how you will pay for long term care services should you need them?

6. Have you calculated whether you could pay for the cost of long term care out of your income?

7. Does your current health insurance cover the cost of skilled long term care.

8. Do you have assets set aside to pay for your long term care costs?

9. Is your current health condition or family medical history one which indicates an increased likelihood of needing long term care?

10. Have you read A Shopper’s Guide to Long-Term Care Insurance which is published by the National Association of Insurance Commissioners?

Your Score 

If you answered yes to more than six of these questions, you are ahead of the curve in having a long term care plan in place. If you answered yes to more than three but less than seven of these questions, you have initiated the process of putting together a long term care plan, but you have more work to do. For those of you who answered yes to less than four of these questions, you are in the company of many people. They avoid making a long term care plan as a way of avoiding reality. The true reality is that reasearch has shown that about 70% of people age 65 will need care for three years or longer. That is a reality you can live with if you have a plan in place for your long term care.