Give Dad a big hug for Father’s Day – and also a long-term care policy

Father’s Day is coming up next Sunday – have you thought about what to give your Dad?

Dads are an important part of our lives! Whether he was your dance partner, a Superhero, or your partner in crime, over the years Dad was quick to mend our broken hearts or fix our broken toys. Maybe some of us are fathers now, and are quickly realizing that fatherhood is full of responsibilities and hard work – and sometimes it can wear you down.

As our parents are growing older and perhaps starting to “slow down” a little bit, it’s important that we begin thinking about taking on that role of now caring for them, and ensuring that medically, and financially, they have what they need. And the best way to do that is with long-term care insurance.

Did you know that the average life expectancy for men is 73.9 years, while the average life expectancy for women is 79.4 years? Through studies and research, we have learned that men and women age differently, both in terms of physical health and psychological well-being. In fact, we have also discovered that men typically suffer more from fatal conditions such as lung disease, liver disease, and hypertension, as women tend to suffer more from debilitating conditions such as arthritis and dementia. (Source: Administration on Aging, 2013)

To many people, their dads mean the world to them! You would probably gladly take dad into your home, care for him as he once did for us, or even try to pay for his care. However, the fact of the matter is, most of us are not skilled to perform the care he might require and/or have the disposable income to cover the hefty out-of-pocket care expenses he might need; which is why investing in a long-term care policy for him, and even your mom, is the smartest thing you can do for him.

If you are unfamiliar with the term “long-term care,” it is the kind of help a person needs if you or a loved one is unable to care for yourself due to a lengthy illness or disability. It refers to care provided in a nursing home, at home, or in an assisted living facility. And services can range from assistance with routine daily living activities like eating and dressing, to 24-hour care by a skilled medical professional. Long-term care insurance simply helps you cover the costs for that care, as typical nursing-home care costs can run around $82,000 annually (Source: 2013 Genworth Financial Survey) and the Center for Medicare and Medicaid Services reports that long-term care costs are increasing at a rate of 5.6% per year.

Many insurance carriers are offering long-term care insurance, which will protect dad and his assets should he face a long-term care need. Policies can be customized and have different features and benefits that can be tailored to meet your individual needs. With so many choices and variables to consider and several plans available, it’s nearly impossible to make an educated decision without the advice of a qualified long-term care expert.

Contact us today to set up a time to talk about setting up a long-term care policy for your your dad, your mom, or a loved one. If you would like more information about the growing need and costs of long-term care, please call (312) 977-0024 or email at


Gail Steingold

Principal of Burling Insurance Group LTC