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Longterm Care
Caroline Kruse: Your Worth is brought to you by Genworth Financial. Visit them at Genworth.com.
Jacquie Chakirelis: You're listening to Family Matters with Jacquie and Caroline, I'm Jacquie.
Caroline: And I'm Caroline. So Jacquie, since you're an only child, I know that you have talked before about how one of your future concerns is for your mother's long-term care should she become ill or incapacitated in any way. Although I know your mom is quite healthy and teaches water aerobics every day!
Jacquie: Yeah, probably healthier than I am, and she's the one who wanted to make those plans and brought it up to me, and I was the one initially reluctant to talk about it, just because you don't want to think about your parents getting old or disabled, but it's a very important issue for all families.
Caroline: And no one knows that better than our guest, Wendy Boglioli. Wendy's name might be familiar to you, she's a gold and bronze medal Olympic champion from the 1976 Olympics, and her team took the only gold medal for women's swimming that year against the East Germans, and many of you may remember that that was the year, Jacquie, that the East Germans were heavily using steroids.
Jacquie: Sure.
Caroline: And Wendy's parents were not able to see her win her bronze medal, but they did get to see her win her gold. But before the Olympics, Wendy's father had become ill and afterwards he deteriorated rather rapidly.
Jacquie: And today, Wendy is Genworth Financial's national spokesperson; and Wendy, welcome to Family Matters.
Wendy Boglioli: Great to be here, Jacquie and Caroline. Thank you for having me.
Jacquie: So how did your Olympic experience prepare you for the rest of your life?
Wendy: It's interesting, because I grew up in Land O' Lakes, Wisconsin, this tiny little town of 600 people. My parents were my Olympic coaches. And in my family, I mean, I'm one of seven children, physical fitness and staying really fit was really important to my parents and to all of us.
So I grew up in an atmosphere that gave me that drive, that commitment, being prepared, being physically fit, figuring out in our lives what are the things we need to do to be prepared in our life. Swimming gave me that into my life.
Certainly that experience and being around people so much like me once I left my home and competed on those big national platforms, really for me gave me this thrust into whatever I can do and whatever I want to do, I can excel at. I learned that early on, and I carry it through my life today, so it was a great diving board for me.
Caroline: Well, as I mentioned, before the Olympics your father had become ill and he rapidly declined, and I understand that after the Olympics you went out into the community to meet with people and research nursing homes to prepare for what your father might need down the road. What did you find?
Wendy: Interestingly enough, back then (this is 27, 28 years ago, my father has been passed away for 26 years) going into those facilities, you'd walk down the halls and most of the people, typically what you would find are the caregivers were women, caring for the patients; the people visiting the patients were primarily women; and then you would walk into the room, and then what you saw were most of the people in the nursing home beds were women.
You fast forward to today, 30 years later, it's exactly the same. The statistics are overwhelming: 78% of people sitting in a nursing home today are women, and they are out of money. They've lived longer than their spouse, and there they are!
So, I found that years ago and I see it today, which is why I am part of this women's initiative and this global, if you will, campaign, and certainly within Genworth Financial. How do you prevent that from happening, or how can you educate people and their families, like you, Jacquie and Caroline - how do you help people understand the impact and consequences when a long term care event happens in a family?
Jacquie: And why do you think this is such an important issue for families?
Wendy: The consequences; I think the consequences are so life-changing. My father had this instant, it was a type of thing where he had a stroke and a heart attack, and my father didn't die the next day or the day after. He really was sick for several years. My father has been dead for 26 years, and the consequences to my mother, living without my dad -- she's 88 years old -- are there today.
So being prepared back then is how you get through your life today. Certainly, for families, you are talking financial, what are the burdens for your family? Back then with my parents, I mean, my mother was my father's primary caregiver, but all of us siblings, the seven of us kids were having young families of our own and our own life to go on, and we're trying to piecemeal helping my mom trying to figure this out caring for my dad, and then certainly after my father passed away, doing the same thing for my mother again. Just trying to figure it out.
It's not a great way to live a life unplanned.
Caroline: Wendy, why should people consider long term care insurance, and at what age?
Wendy: Great question. And certainly today, first of all, people I think in general are lacking the information and education, because so many people that I talk to out on the street and within seminars and groups that I speak to with Genworth Financial, they feel that their own health insurance covers long-term care costs. So I think there is a big communication gap.
So, helping educate people to understand that basic fact. I think there are options for people; long-term care insurance is certainly one of that, but the younger a person is, number one, getting back to your questions, the healthier an individual is. So purchasing a policy is something that you want to do at a younger age.
The other piece of that is: it's not just about your mom or my mom. It's about today younger and younger people are becoming disabled in a way, because we just do more. I'm 52, I ski, I snowshoe, I'm on my bike, I'm all over the place in terms of physical fitness and I am not unique in that. This generation of men and women today push the envelope, as baby boomers, as the sandwich generation, we are out there really, really active. 43% of people needing care today in this country are under 64. So it's pretty amazing.
Caroline: Well Wendy, thank you so much for this important information.
Jacquie: And if you want to know more about long-term insurance, you can visit the Your Worth section at Familymattersradio.com website. Thanks, Wendy!
Wendy: Oh, my pleasure, thank you.
Jacquie: Your Worth has been brought to you by Genworth Financial. Visit them at Genworth.com.
Caroline Kruse: Your Worth is brought to you by Genworth Financial. Visit them at Genworth.com.
Jacquie Chakirelis: You're listening to Family Matters with Jacquie and Caroline, I'm Jacquie.
Caroline: And I'm Caroline. So Jacquie, since you're an only child, I know that you have talked before about how one of your future concerns is for your mother's long-term care should she become ill or incapacitated in any way. Although I know your mom is quite healthy and teaches water aerobics every day!
Jacquie: Yeah, probably healthier than I am, and she's the one who wanted to make those plans and brought it up to me, and I was the one initially reluctant to talk about it, just because you don't want to think about your parents getting old or disabled, but it's a very important issue for all families.
Caroline: And no one knows that better than our guest, Wendy Boglioli. Wendy's name might be familiar to you, she's a gold and bronze medal Olympic champion from the 1976 Olympics, and her team took the only gold medal for women's swimming that year against the East Germans, and many of you may remember that that was the year, Jacquie, that the East Germans were heavily using steroids.
Jacquie: Sure.
Caroline: And Wendy's parents were not able to see her win her bronze medal, but they did get to see her win her gold. But before the Olympics, Wendy's father had become ill and afterwards he deteriorated rather rapidly.
Jacquie: And today, Wendy is Genworth Financial's national spokesperson; and Wendy, welcome to Family Matters.
Wendy Boglioli: Great to be here, Jacquie and Caroline. Thank you for having me.
Jacquie: So how did your Olympic experience prepare you for the rest of your life?
Wendy: It's interesting, because I grew up in Land O' Lakes, Wisconsin, this tiny little town of 600 people. My parents were my Olympic coaches. And in my family, I mean, I'm one of seven children, physical fitness and staying really fit was really important to my parents and to all of us.
So I grew up in an atmosphere that gave me that drive, that commitment, being prepared, being physically fit, figuring out in our lives what are the things we need to do to be prepared in our life. Swimming gave me that into my life.
Certainly that experience and being around people so much like me once I left my home and competed on those big national platforms, really for me gave me this thrust into whatever I can do and whatever I want to do, I can excel at. I learned that early on, and I carry it through my life today, so it was a great diving board for me.
Caroline: Well, as I mentioned, before the Olympics your father had become ill and he rapidly declined, and I understand that after the Olympics you went out into the community to meet with people and research nursing homes to prepare for what your father might need down the road. What did you find?
Wendy: Interestingly enough, back then (this is 27, 28 years ago, my father has been passed away for 26 years) going into those facilities, you'd walk down the halls and most of the people, typically what you would find are the caregivers were women, caring for the patients; the people visiting the patients were primarily women; and then you would walk into the room, and then what you saw were most of the people in the nursing home beds were women.
You fast forward to today, 30 years later, it's exactly the same. The statistics are overwhelming: 78% of people sitting in a nursing home today are women, and they are out of money. They've lived longer than their spouse, and there they are!
So, I found that years ago and I see it today, which is why I am part of this women's initiative and this global, if you will, campaign, and certainly within Genworth Financial. How do you prevent that from happening, or how can you educate people and their families, like you, Jacquie and Caroline - how do you help people understand the impact and consequences when a long term care event happens in a family?
Jacquie: And why do you think this is such an important issue for families?
Wendy: The consequences; I think the consequences are so life-changing. My father had this instant, it was a type of thing where he had a stroke and a heart attack, and my father didn't die the next day or the day after. He really was sick for several years. My father has been dead for 26 years, and the consequences to my mother, living without my dad -- she's 88 years old -- are there today.
So being prepared back then is how you get through your life today. Certainly, for families, you are talking financial, what are the burdens for your family? Back then with my parents, I mean, my mother was my father's primary caregiver, but all of us siblings, the seven of us kids were having young families of our own and our own life to go on, and we're trying to piecemeal helping my mom trying to figure this out caring for my dad, and then certainly after my father passed away, doing the same thing for my mother again. Just trying to figure it out.
It's not a great way to live a life unplanned.
Caroline: Wendy, why should people consider long term care insurance, and at what age?
Wendy: Great question. And certainly today, first of all, people I think in general are lacking the information and education, because so many people that I talk to out on the street and within seminars and groups that I speak to with Genworth Financial, they feel that their own health insurance covers long-term care costs. So I think there is a big communication gap.
So, helping educate people to understand that basic fact. I think there are options for people; long-term care insurance is certainly one of that, but the younger a person is, number one, getting back to your questions, the healthier an individual is. So purchasing a policy is something that you want to do at a younger age.
The other piece of that is: it's not just about your mom or my mom. It's about today younger and younger people are becoming disabled in a way, because we just do more. I'm 52, I ski, I snowshoe, I'm on my bike, I'm all over the place in terms of physical fitness and I am not unique in that. This generation of men and women today push the envelope, as baby boomers, as the sandwich generation, we are out there really, really active. 43% of people needing care today in this country are under 64. So it's pretty amazing.
Caroline: Well Wendy, thank you so much for this important information.
Jacquie: And if you want to know more about long-term insurance, you can visit the Your Worth section at Familymattersradio.com website. Thanks, Wendy!
Wendy: Oh, my pleasure, thank you.
Jacquie: Your Worth has been brought to you by Genworth Financial. Visit them at Genworth.com.