Weird
berries. Capsules of unpronounceable supplements. Yoga or tai chi. Crossword
puzzles. Such amulets, we’re told, may ward off disability — which is the real
fear that accompanies aging, isn’t it? Not the sheer number of years that will
have passed, but the things we’ll no longer be able to do.
Everyone wants to live longer
and enjoy a high quality of life all along the way. Problem: for many
Americans, this turns out to be an “either/or” proposition. Modern medical
science may offer a longer life, but not necessarily a longer life without
disability.
This subject was taken up
recently by The New York Times in an
article titled “High Disability Rates Persist in Old Age.”
Medical science and
gerontologists have long sought a “compression of morbidity.” In other words,
they hoped the average quality of life would extend well into the average
length of life. Instead, it turns out that longer lives are not without cost,
both in ability and, often tragically, in terms of real dollar cost.
Gerontologists will continue to
work on the compression of morbidity problem, or lack thereof. However, for
those alive and planning today for their future tomorrow, this reality calls
for a certain heightened level of awareness.
Either we will experience a shortened
or normal life span with decent health until the end, a lengthened life span
with a long and protracted disability until the end, or something in between. Regardless,
each of us needs to make proper estate and financial plans for any outcome.
Long-term care insurance is one
tool to consider, especially if you want to preserve your options and protect
your assets should your length of life exceed your quality of life someday.
For more information and articles on
estate planning and elder law topics, please visit our website
and sign up for our free monthlye-newsletter. You can also friend
our law practice's Facebook page (R Christine Brown).
Reference: The New York Times – The New Old Age (July 8, 2013) “High Disability Rates Persist in Old Age”