Over 50? Pay Attention to Warning Signs of Dementia
Most people are enthralled with the idea that they might not have to work every day at some point in their lives. The concept of retirement and the ability to own your own time is exciting and scary.
There are financial concerns. Do you have enough resources to enjoy a successful future retirement? Then, there is your health and the changes that happen as we get older. These changes are normal parts of the aging process. Our health will decline. We will notice changes in our bodies.
Perhaps the scariest for most people is the risk of dementia.
You should be aware of the signs you or a loved one may be experiencing more than just normal aging.
Forgetting Your Keys Doesn't Mean You Have Dementia
Don't worry; forgetting your keys from time to time does not mean you are experiencing cognitive decline. However, if you are starting to have trouble finding the right words or forget where you are, it may be more than just normal aging.
Dementia is a term for a group of memory problems we may experience. Sometimes it leads to personality changes, inability to focus, diminished language skills, and more. The result is we need supervision, and long-term health care costs are expensive.
These long-term care costs continue to get more expensive over time. The LTC NEWS Cost of Care Calculator will show you the current and future cost of extended health care services where you live.
Most Insurance Will Not Pay for Dementia Care
Health insurance, Medicare, and supplements will only pay for a small amount of this type of care, if anything at all. Long-Term Care Insurance will pay for this type of care, and in 2021 the major companies paid over $12.3 Billion in benefits, much of it for in-home care. However, you can't get LTC Insurance when you need it; you must purchase it when you are relatively healthy, ideally in your 40s or 50s.
Be careful when shopping, however. Most insurance agents and financial advisors have limited knowledge of this type of insurance. It is best to seek the assistance of a qualified and experienced Long-Term Care Insurance specialist who works with the major companies.
Early Signs of Dementia
There are several types of dementia. Alzheimer's is the most common and famous of all of them. Vascular dementia is the second most common type of dementia where your blood flow to your brain has become diminished. There are more; however, you and your family will notice signs over time.
There are seven early signs of dementia that the AARP notes every family should be looking for in themselves or a loved one. The risk of cognitive decline increases when you are older; however, those in their 40s and 50s will occasionally see early-onset dementias.
Read about the signs by clicking here.
Prepare Family and Finances with LTC Insurance
Prepare your family and finances for the changes in your health, body, and mind you will face in the decades ahead. For many families, affordable Long-Term Care Insurance will be your best option giving you guaranteed tax-free benefits to access your choice of quality care, including in-home care.
Be sure to start planning before you retire; the earlier, the better. Most people obtain coverage in their 50s, but remember, you must have reasonably good health to get coverage.