Lyons Leadership

One of the causes for senior poverty in retirement is health issues.  The problem is that they may appear at any time - with different severities.  Now, the minor health problems are usually relatively cheap, but when it comes to the major health problems, you need to watch out!

You see, as much as 70 % of people over the age of 65 will need some type of long term care in their lives.  Long term care can be as simple as Home Care, or as elaborate as a Nursing Home.  The problem is that the expenses incurred as a result of your care can quickly wipe out your retirement savings, pushing you into a state of poverty.

Now, I don’t know about you, but when I retire I do not want to live below my means.  But the reality is that many seniors must live in a state of poverty due to the expenses incurred from their bad health.  I may not be painting a rosy picture, but it is the truth.  Thing is you can avoid the financial difficulties provided you have an insurance policy.

Now a Long Term Care Insurance package would pay for your expenses you incur during the period that you are in long term care.  This way, your retirement savings remain untouched and you can avoid poverty.  One thing I should mention is that you need the policy before you can use the coverage.

So call you insurance broker and inquire about Long Term Care Insurance.  Don’t become another poor senior - you didn’t work your whole life to live your last days in poverty did you?