Alzheimer’s Disease and the Costs for Family Caregivers
Alzheimer’s disease is a progressive, irreversible brain disorder that affects an estimated 4 million Americans, most of whom are over 65 years of age. As the population ages, the number of people with Alzheimer’s is expected to climb.
Alzheimer’s patients gradually lose their memory, lose learning abilities, language, and motor skills. They become disoriented, suffer personality changes, and lose their ability to take care of themselves. Eight years is the average life span a person is expected to survive when diagnosed with Alzheimer’s disease.
The cost of caring for someone with Alzheimer’s disease
Many Alzheimer’s patients live in their own homes or are cared for by family and friends. Family caregivers can become physically, emotionally, and financially drained by providing constant care and supervision for a person with Alzheimer’s disease. The disease may cause the patient to be aggressive, easily agitated, have delusions, become withdrawn, have disruptive behaviors, and become disoriented. Families usually consider nursing homes or assisted living residences when their condition worsens and the need for more personal care and supervision is more than can be provided at home.
Alzheimer’s disease and other cognitive disabilities are the leading causes for nursing home admissions. People who have Alzheimer’s disease eventually require continuing, long term care, either at home, in a nursing home or in another continuing-care facility.
The financial hardship can be extreme on a family that needs to put their loved ones in a nursing home, assisted living facility or to get the necessary home health care help.
Many caregiver families put their own retirement savings on hold, have other responsibilities to their own children, and may suffer in their careers because they can not take travel assignments or work late.
Financial protection with LTC Insurance
LTCI provides families the opportunity to give their loved ones the adequate care needed. Many LTCI policies generally cover Alzheimer’s disease and organic cognitive impairment conditions. However, LTCI is best purchased before the problems arise. If the insured has Alzheimer’s disease at the time of purchase, request for insurance coverage may be denied.
The physical, emotional, and financial strain of caring for a loved one is extreme for the caretaker family. Adult children can protect their own financial security by purchasing LTCI for loved ones.
To get an idea how much LTCI costs, get a free LTCI quote online.