Each one of us bears a responsibility to act as our own advocate and plan for our own care when the time comes that we can no longer take care of ourselves. Many mistakenly believe the government will take care of us. Any government assistance covers only the most basic care which is far less than what is considered reasonable.

The most logical solution to manage the inevitable is Long term care insurance. Long term care insurance provides the necessary resources when one is no longer independently able to care, physically or mentally, for themselves.

However, this intelligent solution comes with its own set of issues. Traditional Canadian long term care insurance products require full underwriting and as a result over 50% of applicants are declined. Furthermore, they are very costly and out of reach for most Canadians.

Fortunately, with the “Silver Tsunami” of aging Baby Boomers there are new products arriving in the market place to address these needs. They are affordable and do not require a medical exam. To find what works best for you, I suggest you consult with an experienced insurance broker.