Most people think that Long-Term Care Insurance is something that only older people should consider. In reality, 40% of people receiving care today are between the ages of 18 and 64.1 This makes Long-Term Care Insurance a product that everyone, regardless of age, needs to carefully consider as an addition to their risk management planning.

People between the ages of 18 and 64 can require long-term care for a variety of reasons. In some cases, an automobile accident or a recreational accident, such as skiing, can cause the need for care. Other times, it can be caused by illnesses such as multiple sclerosis, stroke or heart attack. Yes, these illnesses even happen to young and middle-aged adults. We all know of younger people who have had an accident which caused paralysis or someone who has a disease, such as Parkinson's.

Some think because they have disability income insurance, they don't need long-term care protection. However, disability income is designed to help you continue to meet your everyday bills and financial needs, not to pay for long-term care services.

If you are not financially prepared for a long-term care need, your care options are extremely limited. Perhaps family members can help out? Unfortunately, many family members today are either not geographically close enough to participate or are not in an economic position to assist financially. So, what do you do? The only other option may be Medicaid.