It is important to have various plans and policies in place for you or a loved one to make the aging process seamless and comfortable. Here are a few tips on what you can do to be proactive in planning.
Making sure all your insurance policies are in line is crucial to growing older. Thinking about long term care insurance is a great start. What is long term care insurance? According to Home Instead, long-term care insurance is “a form of insurance that is generally intended to cover services needed to care for a person in later life.” Once you locate a policy that is right for you, determining the level of care needed will be the next step. If this policy is being put in place for a loved one, keep an eye on their behavior to determine the correct amount of care he/she may need now or down the road. Key indicators include personal hygiene, physical and mental health, and signs of forgetfulness, such as an untidy house or missed doctor’s appointments. Having a long-term care insurance plan can help you or your loved one feel secure as they grow older.
Other Important Documents
According to the Elder Protection Center, there are five documents that every elderly person should have. First, a medical directive document. This will lay out what type of care you want to receive in the future if you are ever unable to claim so yourself. Second, a power of attorney for health care. This will appoint a trusted person to make health care decisions on your behalf if you are ever unable to do so. Third is a power of attorney for finances. This will appoint a trusted loved one to handle your financial affairs, pay bills, etc. Next, a revocable trust. This allows a loved one to have control over your estates and assets. Lastly, the final record is a will. This is a legal document that will let your loved ones and close friends know who should receive which of your assets after death. Without a will, the court has to decide what happens to your assets, so it is important to outline all of your wishes.
It is also important to have contact resources in place in case of any medical emergencies. Having a list of emergency contacts such as nearby family, doctors, etc. is essential to keep on hand so you can contact help quickly. Consider inputting these contacts in your phone so they are easily accessible and keeping a written copy at home as a backup. It is also advised to provide loved ones or close friends with the same list of contact information in case of an emergency where you are unable to retrieve help yourself. Similarly, write down a list of all medications you take and share it with a loved one or friend to have in the event of a medical emergency.
Using these tips, you or your loved one can feel comfort knowing that you are prepared as you grow older.