When a Long-Term Care Insurance Insider Is the Caregiver

A clock caretaker polishing shadowy old clock faces. (Image: Elise Amendola/AP)

And when you’re no longer there, your assets will determine whether your wife can have the lifestyle she probably desires and definitely deserves.

I’m helping a friend now who I’ve known since the third grade. Linda and I reconnected at our recent high school reunion.

Her husband, a very successful attorney, had Alzheimer’s and was in a nursing home for years. His care decimated their savings; she’s now living in subsidized housing.

Following serious back surgery in December, she went to a nursing home for rehab. I spent hours during the holiday trying to help when the nursing home released her prematurely and sent her home.

She has minimal help from friends, her kids live in other states and she has no long-term care coverage to pay for her needed care.

It’s a mess.

As I am writing this, I am really scared about the medical challenges facing my husband and about the outcome of this very serious surgery he is facing.

And yes, I do worry about my financial future.

But the good news is that this worry is not as valid as the medical issues.

Thank goodness, I will be able have an income stream from our policy to pay for the long-term care he will need.

I realize that I am writing this not only for you, but also for myself.

I am trying to look at the positive aspects of the situation I am facing in the upcoming days and weeks.

If you don’t want the policy, don’t do it.

But think about the impact on your wife.

I’m living this right now. And I can honestly tell you: Thank goodness we have this protection. Otherwise, my financial future would be in serious jeopardy.

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I know you love your wife. I can tell from our meetings.

Here’s why you need to apply for this policy.

You are doing it for her.

I hope you understand why I am sending you this email.

This is written from the heart.

Margie Barrie, an agent with ACSIA Partners, has been writing the LTCI Insider column since 2000. She is the author of two books and a frequent conference speaker.

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Credit: Elise Amendola/AP