What You Need to Know
- Healthy people can end up needing long-term care, too.
- Caregiving without adequate financial resources is a nightmare.
- When an AARP caregiving expert actually became a caregiver, she ended up in bankruptcy court.
George, a judge, had just dropped off his car to be serviced and was crossing the street to go to his office. Unfortunately, he didn’t look both ways.
A car hit him.
In the ambulance, he coded. They were able to revive him. His injuries were severe. Many of the bones below his waist were broken. He also broke his spine, a shoulder and a number of ribs.
First there was a hospital stay. Then he went to a rehab facility. He returned to the hospital for more surgery, and then headed back to the rehab facility.
Five months later, he has just returned home. His wife is now his primary caregiver.
Why am I sharing this with you?
George is the husband of Betsy, my best friend and college roommate. They are family. Even our sons are best friends.
Here’s the scary part — they don’t have long-term care insurance.
When I mentioned this protection to them many years ago, they decided not to buy it, thinking they had sufficient assets.