Take out long-term care insurance as a young parent?

The day comes when everything changes. The independence, which one built up laboriously all life long, is suddenly gone. Everyday things that were always easy to do as a matter of course suddenly become a problem. Or you have a minor accident at home and the recovery becomes an ordeal and ends in a nursing home. In the worst case, an unforeseen event can tear you out of your normal life and suddenly turn you into a nursing case.

Protect your children

Whether the family can afford the time to provide care at home themselves, have a caregiver come or whether the transfer to a care facility becomes unavoidable, everything causes costs. Costs that place an enormous burden on a young family. To provide for these cases and, of course, especially for old age, it makes sense to think about taking out long-term care insurance in good time. It has happened quite often that the state has been able to make such high demands on the relatives for additional payments that they have been close to having to apply for social welfare.

Compulsory insurance with additional options

Since 1995 in Germany even an insurance obligation for the range care was issued. Thus, long-term care insurance represents the fifth pillar in the system of compulsory insurances. For the classification of the need for care, an expert opinion is prepared, which is repeated at regular intervals. Of course, they will always try to keep the care level officially as low as possible, so that the state fund is only burdened to a minimal extent and the rest must be financed privately. It should not be underestimated that the statutory long-term care insurance covers only a small part of the costs incurred.

This can be compared, for example, with dental costs. The health insurance covers a small part. Remedy can be a private supplementary insurance. So also in the care sector. Private long-term care insurance closes a financing gap and helps your children to concentrate on the essentials when long-term care becomes necessary, so that they do not also have to worry existentially about financing the costs of long-term care and their own living expenses.

Long-term care is a wide-ranging topic

When it comes to old age, there are many types of provisions that the current generation must consider. Because, as is well known, we can no longer rely purely on the state pension. However, the topic of care is an aspect that not only affects you alone, but which will inevitably be passed on to your direct descendants in the future. Protect your children and give yourself a carefree retirement, despite the possibility of needing long-term care!