Will Your Children Really Take Care Of You?

When asked about how they intend to handle a long term care event, many future retirees expect some PAY BACK from others - including their lovable children...

But where do they (the children) live? Are they close by? Do they work? In 20 years, what will they be doing? Working toward retirement? Getting your grandchildren through college? Planning weddings? Enjoying grandchildren of their own? Even if they could put their life on hold and take care of you, do you want them to actually give you a bed bath and wipe your behind or would you rather they oversee your care using professional caregivers?

Note: my boys object to cleaning their dishes, are they really gonna want to clean me? Never mind - some sobering facts everyone should know:

  • 70% of the population will need LTC (USA Today)

  • In a married couple, there is a 91% chance that at least one spouse will need LTC (USA Today)

  • Inflationary growth of health care costs is 5.5% (Bloomberg)

Future care costs in Illinois are nothing to sneeze at...

Questions you should ask:

  • How do I want to receive care?

  • Where do I want to receive care?

  • Who do I want to provide the care?

  • How will my family or I pay for the care?

  • How do you feel about your current LTC plan?

  • How are you going to pay for a long-term care event?


There are many ways to plan for a long term care event. Options include self-funding, traditional LTC insurance, asset-based long term care insurance and certain, carefully created cash value insurance policies (LIRPs). Speak to an insurance solutions professional or an RICP (Retirement Income Certified Professional) to learn the approach which best suits your unique situation.

Perhaps the greatest benefit of handling a potential LTC situation/need is that it can allow loved ones to care ABOUT you…instead of having to care FOR you.

That's just the way it works!