National statistics show that women in Texas and all around the country have a longer life expectancy than men. Women are likely to live until age 81, while the life span for men is 76. Since women are often the primary caregivers when family members become unable to provide personal care, there is a valid concern regarding who will care for them in the future when they are in need. Long-term care planning is an important issue to address as the population in the country ages.
Statistics show that around 70 percent of adults over age 65 will need long-term care at some point in their lives. As opposed to medical care that seeks a cure for sickness, long-term care focuses on providing a certain quality of life for an individual. Services for medical, personal, housing and socials needs may be required when a person is incapacitated by illness or injury.
Industry experts report that women typically do not have a plan for their long-term care. They, in fact, are the ones who provide much of the care for spouses, parents or in-laws. The majority of this type of care provided is unpaid, and many women have left jobs to be able to care for others. Even if someone is not a caregiver on a full-time basis, reports show that women caregivers have passed up promotions, reduced work hours or quit their jobs to create time to provide care.
While it is important for women to have a plan for their long-term care, it is equally as critical for men. Adequate care is expensive, whether it is provided in the home, at an assisted living facility or a nursing home. A Texas elder law attorney can work with clients to develop a plan to address these needs. A comprehensive plan can help protect someone’s investments both now and in the future.
Source: bradenton.com, “The benefits of long-term insurance, especially for women”, Mike Doll, Aug. 28, 2017