To say giving Alzheimer’s care means providing a vital service is an understatement.
They may help keep someone at home who would otherwise be placed in a nursing home or other facility. Often doing the work of more than one hired person. And understandably many caregivers are concerned about the financial impact on their families if something should happen to them.
When I was a child, my parents had the usual insurance policies – health, car, and house. They also both had life insurance policies, which at least in our region was unusual.
Early in their lives, both my parents were touched by untimely deaths of close family or friends. And they saw how the loss of a caregiver or an income – or both – affects the family left behind.
As my dad explained to me, they wanted to be sure that the surviving spouse could care for the children and himself or herself.
This applies to family caregivers. It can be hard to think about, although it’s a good idea to plan ahead. The peace of mind of planning for your family’s future can be priceless.
If something happens to you, how could a chronic disease like Alzheimers test your family finances?
Some questions to consider include…
- Who would provide the Alzheimer’s care?
- Would your family need to hire caregiving help or find a nursing home?
- Would another family member assume your caregiving?
- Who pays for the care?
- Is there a potential loss of family income?
All of these questions help you and your insurance professional determine the amount of coverage you’ll need, and what type of policy is best for you. Carefully considering your and your family’s individual situation with a professional can reduce your stress while providing for your loved ones.
Now there’s a community you can join to connect with other caregivers, together more than surviving – thriving in giving care. The Caregiver’s Heart membership was created by a caregiver for caregivers. And now you can try it yourself for 7 days for only 1 cent.
*PayPal and credit card companies charge a 1 cent ($0.01) processing fee for trial memberships.
To your healthy and happy caregiving,
Ina Gilmore, M.D. (Retired)
“The Knitting Dr.”
Ambassador of Elder Care, www.HowToLiveOnPurpose.com