Life Interrupted

Adam, 24 years old, had recently graduated from college and accepted his dream job as an aerospace engineer. Excited to begin his career, Adam enrolled in his employer’s Health, Life, and Disability insurance benefits. However, believing Long-Term Care Insurance was only necessary for older individuals, he declined the coverage through his employer.

One year later, Adam began to experience painful headaches, making it hard to focus at work. As time passed, these became more frequent and started to impede on his ability to perform daily tasks. After ongoing Sclerosis (MS), a condition that affects the central nervous system.

Over the next several years, Adam’s condition worsened, affecting his vision, mobility, and ability to complete everyday tasks. Eventually, he was forced to leave his job to focus on his health. Although his Disability Insurance helped replace a portion of his lost income, it did not cover the cost of the ongoing personal care he needed. By age 30, Adam required regular assistance maintain his independence without placing additional responsibilities on his parents, Adam decided to move into a care facility where he could receive the support he needed.

However, the cost of care quickly became a financial burden. With limited savings and no Long-Term Care Insurance coverage, Adam turned to his parents for financial assistance. Recently retired themselves, his parents began using a portion of their retirement savings to help cover his care expenses.

The Importance of Planning

Adam’s experience demonstrates how an unexpected diagnosis can change an individual's personal and financial future at a young age. While Disability Insurance may help replace lost income, Long-Term Care Insurance may help cover qualifying care expenses. Planning ahead could help individuals like Adam maintain greater independence while reducing the financial burden placed on their loved ones.

Face Your Future With Confidence