from Newton, Massachusetts
I became the CEO of our family business about 10 years ago. I live with my partner and our two young boys. I first learned about long-term care insurance 10-15 years ago when it came to the market. I am familiar with the need for care because both my grandparents ended up needing long-term care nursing care. At the time, there weren’t long-term care insurance polices and the costs of their care were enormous. I’ve seen that long-term illnesses can be a burden both emotionally and financially. It is important that people really spend the time thinking about what kind of impact a long-term illness would have on all the money that they’ve saved for retirement. Something that is important for people to remember is that buying long-term care insurance is in a sense like building a house, it is very customizable. You don’t necessarily have to insure for every cost you will have, you might just buy something that defrays the cost.
Aviva Sapers — My Video
My name is Aviva Sapers
And this is My Story
I grew up in Brookline, Massachusetts. I wanted to be in business, be my own boss and help people. I said “Geez, you know, my dad seemed to really like what he does for a living. So I told him that I thought I was interested in coming into the insurance business and I became CEO of our family business about 10 years ago.
This is My Choice
I think the first policies that we sold were between 10 and 15 years ago.
Both my grandparents ended up needing long-term nursing care. At that time they didn’t have policies for them.
So we’re pretty familiar with the need for care, the cost of care, and luckily we could afford it.
This is My Advice
It’s just an important part of everybody’s estate plan. And what I mean by that is a lot of people spend all this time saving for retirement and have not really spent the time thinking about what a long-term illness would have in terms of impact on all this money that they saved for retirement. If one spouse ends up needing care that could completely wipe out the retirement savings that the other spouse was supposed to then live on for the rest of their lives.
If you can insure for it, and spend a lot less than you need to out of pocket, I firmly believe that it’s a good thing to have.