Do Seniors Need Life Insurance?

blog-img

As your financial situation changes throughout your lifetime, the need for life insurance also fluctuates. Many seniors believe they no longer need life insurance, either because their mortgage is paid off and they have retirement savings to spend or because their children, who are often life insurance beneficiaries, have become financially secure in their own right. Do seniors still need life insurance? Today, we’ll talk about life insurance for seniors, the different types offered, and whether it still makes sense after retirement. Step 1: Consider your needs, and those of your family members. Throughout their careers, many people get life insurance as part of their employment benefits, and once they retire, these policies are either paid for or, if it was term coverage, the term is over. As a retiree, you may wonder whether you need to think about buying a new policy. To answer that question, we need to think about its purpose: life insurance provides money to the people you leave behind. For that reason, consider the situations of your loved ones before deciding. You might want to use life insurance to provide a solid inheritance, to pay off expenses like a remaining mortgage or medical costs, or simply to cover the costs of burial.  Step 2: Shop around. For this step, contact a trusted life insurance agent. If you don’t have one, ask friends and family members for a referral. You want help from someone you trust to help you navigate the many options available before you decide. Be prepared for medical questions and exams, since most policies for seniors will require these at a minimum, and some companies require more extensive medical exams than others. Shop around with a trusted agent who can help you. Step 3: Consider the different types of life insurance. The terminology can be confusing, so choose an agent who will clearly explain the differences and help you find the perfect policy for you. Here are some examples of the types of policies available: 

  • Final expenses only. If you’re only looking to cover burial expenses because your loved ones are generally secure financially, you may only need a burial/final expense policy. 
  • Term life. If you have debts to pay off or want to leave your loved ones a sum of money, you’ll need to decide between term life, whole life, and other policies. In general, term life insurance is less expensive and your payments are fixed, but the policy ends after a pre-determined term. 
  • Whole life. Whole life is generally more expensive than term life, but the policy lasts until your death. Whole life also lets you borrow against the policy’s cash value. 
  • Universal life. Universal life is similar to whole life, but both premiums and cash value fluctuate based on how the policy’s investments perform in the market, which means you could see higher premiums down the road. 

Step 4: Budget costs and choosing a policy. Life insurance is more expensive when you start a new policy after age 50, but that doesn’t mean you won’t find one that you can afford. Work through your income and expenses and, if the policy fits your budget, get started by working with your agent.  With all the different options and unusual terminology, buying life insurance can be confusing, but a trusted agent can help you navigate through the process. Following the steps above can help you make some of the decisions before visiting your agent, so you can explain exactly what you need.  Life insurance is just one of life’s many challenging decisions. When it’s time to decide about assisted senior living, contact us at Ashbridge Manor Senior Living. Our dedicated senior care professionals will answer all your questions and make the transition easy. Our facilities provide helpful amenities, engaging daily activities, an emphasis on wellness, and a friendly, welcoming sense of community. You can find us at 971 E. Lancaster Avenue in Downingtown, PA, call 610.269.8800, or contact us online for more information.

Continue reading →

Caring for the Caregivers: Tips for People Caring for Seniors

blog-img

In many families, the responsibility for senior care falls on children or other family members. When a senior parent or other person in your family has medical issues or dementia, caregiving can be a round-the-clock job. With all the focus on caring for the senior, it can seem that there is little time to stay healthy and take care of yourself.  However, self-care is crucial for caregivers. Caregiving demands time, effort, and emotions that can sometimes cause stress. While you’re focused on your loved one’s nutrition, you may skip preparing healthy meals for yourself. Today, we’ll talk about some of the things that caregivers can do to stay healthy and relaxed while minimizing the effects of stress. Take breaks when you can. Breaks are an important part of your physical and mental well-being. You can take breaks by hiring a part-time caregiver to step in and give you some time for yourself. If finances are an option, check with local government assistance programs from the Department of Human Services to see if any low- or no-cost respite services are offered in your area. When you do get those breaks, do something just for yourself. This can be anything from getting some much-needed sleep to getting dressed up for a night out.  Organize. Things can be chaotic when you’re caring for a senior and managing your own life at the same time. Spend some time organizing to save you some hassle later. For the senior, organize legal papers, medications and medical information, and living areas so that everything is easy to find quickly. Keep lists – shopping lists, medication schedules, etc. – to avoid confusion and get everything done on the right schedule. Get support. Search for local organizations that offer free caregiver support groups. Meeting others in the same situation makes your job as a caregiver easier through tips and valuable ideas as well as emotional support. Don’t forget to enlist the help of your personal friends and other family members, who can help you keep it all together. Prioritize your personal health. A healthy diet, exercise, plenty of rest, and plenty of water will keep your body healthy and help fight off the effects of stress. Stress can cause you to gain weight (or lose too much), have frequent headaches, feel tired all the time, feel irritated, angry, or even depressed. That’s why it’s so important to take care of your own health while caring for your loved one. Be realistic. There’s a lot to do when you’re a caregiver, and sometimes, it’s just too much for one person. Don’t jump in and reorganize all your parents’ cabinets when you’re already caring for them all day and night. Instead, gather a team to help you out. And sometimes, a senior’s medical needs are just too extensive to care for him or her at home. If that’s the case, consider a senior living option that can give you peace of mind in a place your parents will enjoy. When it’s ready to try senior living services, contact us at Ashbridge Manor Senior Living. Our dedicated care professionals will help make the senior living transition easy for your loved one, with facilities designed to make seniors feel right at home, with interesting activities, helpful amenities, an emphasis on wellness, and a welcoming sense of community. You can find us at 971 E. Lancaster Avenue in Downingtown, PA, call 610.269.8800, or contact us online for more information.

Continue reading →

Coping with Rising Drug Costs: Tips for Seniors

blog-img

Prescription drug prices continue to soar, and for seniors and their caregivers, this can sometimes lead to detrimental effects on their health. Government leaders are trying to come up with solutions, but in the meantime, seniors are left with some tough choices. In one study, 85% of seniors are prescribed medication by their doctors, but one out of every 20 seniors 65 and older can’t afford it. The strategies these seniors used can be costly to their health. Some skip their medication altogether and some take less than prescribed to make that bottle of medication last longer. These are dangerous strategies that can negatively affect your health. To avoid this situation, here are some options that will help you afford your medication. Speak to your doctor. Unless you tell him or her, your doctor won’t know your financial situation. If a drug is too expensive, talk with your doctor about less expensive alternatives. Be sure to get all the information, because some less expensive medications may not work the same way or may not work as well. To ensure your health and well-being, write down all the questions you have about your medication and ask them on your next doctor visit. Ask for generics. Generic medications can be just as effective as the brand names. However, to get the generic option, your doctor needs to check the box on the prescription that allows your pharmacist to use generics, so be sure your doctor is aware that you need generics when writing the prescription. Look for discounts. Ask your pharmacist if your drug store participates in any discount programs, and search on coupon websites for drug discount options. A little research can help you save a lot of money on your prescription medications. Find assistance programs. There are a variety of government assistance programs that can help you save money on prescription drugs. Contact your local office of the Department of Health and Human Services, and they can direct you to the right department for information. Also, you can visit the website of the manufacturer for your medications for help. Most pharmaceutical companies have consumer assistance programs. There is a lot of help available for those who ask. Review your Medicare plan. It’s time to do some more research, this time into different Medicare prescription drug plans and supplemental plans that can lower your out-of-pocket costs for medications. Each state has different plans available, so search online for plans in your area that can help. If you need assistance finding the right plan, some organizations for seniors, like the AARP, may be able to help. Your medications are important and skipping a dose can be detrimental to your health. Your doctor, pharmacist, and even your senior living care professional can help you find ways to make medication affordable. When it’s time to consider assisted senior living, contact us at Ashbridge Manor Senior Living. Our dedicated professionals make the transition easy, and we provide helpful amenities, interesting activities, a focus on wellness, and a friendly sense of community. You can find us at 971 E. Lancaster Avenue in Downingtown, PA, call 610.269.8800, or contact us online for more information.

Continue reading →

Hello world!

blog-img

“We thank you and your staff for all you folks have done to make Dad’s living with you so enjoyable. We appreciate your extra efforts above and beyond the normal to make sure that he is always safe, well fed not left alone and encouraged to be involved in your community. Thanks for your buddy system, excellent housekeeping and all the additional medical and other services that are in place for your residents. We highly recommend Ashbridge to everyone looking for the BEST in retirement living,” Peggy D
“I wish to thank the wonderful personnel that are the Ashbridge Family to my aunt. I commend your patience and understanding.” Joan B
“Your continuing communications with us as my mother’s condition worsened were delivered with concern and respect. We were always aware of the dignity with which you treated her and the many accommodations your staff made for us in helping to make her stay at Ashbridge as pleasant as possible.” Laurie N
“I relish the many activities I am able to participate in and I will always treasure the many warm friendships I have been fortunate enough to make. The kitchen staff deserves special mention since they have always accommodated me no matter how erratic my schedule is.” Norma G.
“I am so pleased with the staff here. Everyone has treated me beautifully.” Bob D
“The transition for my parents could not have been any better!” Karen J
“Everyone has helped make this the best case scenario. I am thankful for the staff and the wonderful people who live here.” Gail M
“Whenever we visit Papa John, everyone is always very friendly, helpful and engaging. They offer personalized attention to the residents and keep family members informed about what we need to know. Ashbridge Manor has been a great fit for Papa John and has allowed him to meet new friends, remain very active, and really enjoy his retirement years. It gives us great comfort knowing that he is living in such a wonderful caring community.” Louis M
Continue reading →

Schedule a Visit