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Toronto Wakes Up to Long Term Care Insurance

Shocking Long Term Care Facts

It has been stated that come 2020 the Canadian population will be comprised of 20 per cent seniors. If you sit back and just think about that for a minute you will soon find yourself in a bit of worried state. Some of the questions Jack Bendahan your Long Term Care specialist tackles are how exactly is the government going to be able to handle this strain financially, employment wise. We all boast that in our country our mortality rate has gone up but what does that really mean for us. We can assume it means more bills, more strain on the already buckling Canadian Economic system, and more strain on the children of those who have not planned out what will happen should they end up in one of these facilities. Truth be told we are really not prepared to shoulder this kind of expense. And as the years go on, its is us and our children who will have real worry when we have kids in university and parents in old age homes all at once.

How to prepare financially for Long Term Care

Jack Bendahan your native Toronto Life Insurance Broker discusses why there are so many old age homes up in the area being built and how this will impact all of our futures if we do not start thinking about it today. Long Term Care Insurance is something you should in the very least get an education on and educate your parents on, because it is something that will hit us for sure when seniors in Canada will encompass 20% of the Canadian population by 2020. Talk to the lifeman for a free quote or to get a better understanding of the product. In an real life on airtime Jack explains how is own grandmother did not have long term care insurance and how his father had to dish out several thousands of dollars in long term care costs  over many years. This caused some financial strain especially at times when he should be enjoying his early years of entering retirement. Summarized by Bendahan himself, he states its difficult and he sympathizes very much with people and budget, all components insurance are necessary and sometimes you just have to pick and choose which best suit your needs without thinking all that much about the future. What Jack does recommend is that you speak to baby boomers including you parents and make sure that they have a plan in place, and if they don’t explain to them how it can effect your life and those of your grandchildren.