Once you have decided that want to care for a senior loved one at home, the first step should be to research if they have long-term care insurance or other financial assets to pay for care assistance from professional services.

I have encountered many families who were unaware that their mom or dad had purchased long-term care insurance. One client only found out that their dad had purchased a policy when they received notice that it was about to be terminated for non-payment of the premium.

Long Term Care Insurance can be a valuable tool to help seniors maintain independence. A Long-term care insurance policy usually covers the cost of service to aid a policyholder with their daily living activities. These are non-medical needs, such as assistance with bathing, dressing, meal preparation, toileting, and mobility.

You will need to read the policy to determine how to activate the benefits, and the length of wait time until the insurer initiates payment for services.