Long-term care insurance will provide tax-free benefits if you develop a critical and chronic illness and are unable to care for yourself. It may cover health and personal care services if you are living at home, in a retirement residence or long-term care facility. Different policies will reimburse for eligible expenses, a set amount for expenses on a given day or provide flexible income without the need of proving expenses.
A retirement community provides you the same freedoms as living in your own house or apartment. Many suites feature kitchens or kitchenettes allowing you to cook what you like at any time. If you have the space, friends and family are also permitted to stay with you as guests in your suite. Whenever you do not feel like cooking or want some social activity, it is a quick trip to an à la carte restaurant and other amenities within the same building.
Most retirement residences offer respite care stays. It allows you to recover, with assistance and use amenities such as a pool, workout room and spa to speed up your recovery. A residence with an on-site doctor or nurse will also assist in your recovery. It is also a great way to try out a retirement community and many people choose their retirement communities based on the care received during a temporary stay.
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