This article was written by my Long-Term Care specialist colleague, Duncan Winton.

Vacation Season Magnifies Caregivers’ Dilemma

It’s summertime and, as the song goes, the living is easy.  But that’s not necessarily true for the estimated 34 million Americans who are caregivers[1].  Long term care giving describes a spectrum of responsibilities, from overseeing long-distance care to care given in person.  Long term care can run the gamut from help with medical appointments, to help dressing and bathing, to even housekeeping and yard maintenance.

The heaviest burden falls on the shoulders of those who live with the person needing care.  While even professional caregivers can burnout, the stress caused by round-the-clock care by unpaid friends and family members can be a recipe for disaster.  The cost of care giving can be both physical and mental, from exhaustion to depression.  According to the CDC, over half (53%) of caregivers indicate that a decline in health has compromised their ability to provide care.[2]

Caregivers who see neighbors and friends planning summer day trips and vacations may wonder when and how they will ever get a break.  Many are unaware that several options exist to give them a much-needed break, and allow them to recharge their batteries. The caregivers’ dilemma is this: in order to provide the best care for their loved one, they must occasionally take a break to care for themselves.

Respite Care Offers Relief

Respite care refers to short-term breaks in care giving responsibilities.  Respite care may mean a temporary move to an assisted living facility or nursing home, allowing a caregiver to take a vacation.  Details on facility-based respite care can be learned by calling either the Director of Marketing or Director of Admissions at a facility.

Ongoing respite care can allow the caregiver the opportunity to do grocery shopping, socialize with friends, or even to exercise at a gym.  It can be arranged through a variety of sources.  Providers of respite care include adult day health programs, visitation by volunteers through a church or community group, or even companion care through a non-medical home care agency.

Long Term Care Insurance Often Pays for Respite Care

Many long term care insurance policies will pay for respite care.  The benefit is typically equal to approximately one month of benefits in each policy year.  The respite care benefit can make it possible for informal caregivers to get a break by taking advantage of professional services.  This benefit is often available without first having to meet a deductible.

Modern long term care giving is often more like a marathon than a sprint.  Proper self care, including a break from care giving duties,  is critical to the caregiver being able to go the distance.

[1] Family Caregiver Alliance  “34 million adults (16% of population) provide care to adults 50+ years.”   http://www.caregiver.org/caregiver/jsp/content_node.jsp?nodeid=439  

[2] Centers for Disease Control and Prevention http://www.cdc.gov/aging/caregiving/

Some of the highlights:

- CDA member companies paid more than $8 billion in ongoing disability insurance payments to individuals during 2009.
- The 2010 Claims Review clearly illustrates that disabilities are more common than people think, and they are on the rise.
- Because ultimately all financial security results from one’s income, it’s imperative that people plan and protect against an income-limiting disability.
- CDA member companies approved long-term disability insurance benefits for 141,000 new individuals.
- The leading cause of disability continues to be musculoskeletal and connective tissue disorders.
- 100 million workers have no private income protection insurance.
-  fewer employers provided group long-term disability programs in 2009.

Here’s the complete article.

I hope this helps strengthens your conviction of the importance of disability insurance coverage.

Enjoy your day.

No one has ever lost their principle on a fixed annuity due to an insurance company failing. That’s not always the case for the FDIC… And just to give you an idea of how the banks are doing… From 1994 through 2008 there were 94 bank failures. Just last year alone, 140 banks failed and so far 67 have failed this year in 2010. And that number is expected to climb considerably. So not only is the stock market shaky right now… but banks so peachy either.

Read the entire article here. They are asking why I am not selling annuities but fortunately at Palmer Insurance of Vermont we saw the storm coming and annuities was one great way of providing shelter during the turbulent financial times ahead.

While so many aspects of people’s financial lives look bleak at the moment, life insurance continues to do exactly what it was designed to — serve as the foundation of your family’s financial security. If you own a term life policy, the death benefit it would pay if you died tomorrow is unchanged from a week, a month or a year ago. If you own a whole life policy, your death benefit is also guaranteed and your cash values have actually grown over the past year, not declined. In this tumultuous economy, you can take comfort in knowing that life insurance — whatever type you may own or intend to buy — can provide some certainty and stability at a time when both are in short supply.

While it may seem difficult nowadays to look beyond the bills that are due at the end of the month, you should consider buying life insurance or adding to existing coverage. It will provide an anchor of stability to your family finances, ensuring that your loved ones will be financially secure when you die.

October marks the start of “deer season” across the country, where male deer activity dramatically increases, resulting in a significant rise in the number of vehicular collisions. With the deer population increasing across the country, and living space for wildlife habitat on the decline, experts warn that the number of incidents involving a deer jumping into the path of a car is on the rise.

“Deer are bigger and heavier than people may think. According to the Insurance Information Institute, the average cost for a collision claim is $2,800, although, when a bodily injury is involved, that cost rises to $10,000,” . “These collisions come from out of nowhere, occur in seconds, and can result in significant property damage and life-threatening situations. By staying alert and reacting appropriately, drivers can avoid many collisions.”

During deer season, consider the following:

• Watch the clock. Deer are most active from sunset to midnight, and during the hours just before and after sunrise, which are feeding times.
• Watch the speed. When it comes to deer collisions, it’s not just the speed of the animal that plays a factor—it’s the speed of the vehicle. Think about it: if you were driving your vehicle at a speed of over 60 miles an hour, you would cover the length of a football field in the same time it takes to change a CD.
• Be vigilant. Deer don’t run alone. If you see one, there are likely others nearby.
• Don’t swerve. If a deer is suddenly right in front of you, sound your horn to frighten it away. Brake firmly, but stay in your lane. Serious crashes happen when drivers swerve to avoid a deer, only to hit other vehicles or lose control of their cars.
• Wear your seatbelt. Most people injured in deer/car crashes were unbuckled at the time.