As we age, the prospect of living a long and fulfilling life is something we all cherish. However, with increased longevity comes the risk of outliving our savings, a concern known as longevity risk. For aging adults, this can mean running short of the financial resources needed to maintain a comfortable and independent lifestyle.

If you are already a Friends Life Care member and have a plan with a financial benefit, you have taken a valuable step toward addressing this.

If you are not yet a member, you can take this opportunity to learn how a continuing-care-at-home program may be an ingredient in your recipe for vibrant aging.

What is Longevity Risk?

Longevity risk refers to the possibility of outliving one’s financial resources due to an extended lifespan. With advancements in healthcare and improved living conditions, people are living longer than ever before.

While this is a positive development, it also means that individuals need to plan for a longer retirement period, which can strain their savings and investments.  This is especially important because living longer often brings health challenges. And the cost of short- and long-term care is continuing to increase.

The Impact of Longevity Risk on Older Adults

For many older adults, the fear of running out of money in retirement is a significant concern. Did you know? This fear often ranks higher than the fear of death itself. Longevity risk can lead to financial insecurity, reduced quality of life, and increased dependence on family members or government assistance. It can also limit one’s ability to enjoy retirement and pursue activities that bring joy and fulfillment.

How a Continuing Care at Home Program Can Help

Continuing care at home is a proven solution that allows seniors to receive necessary care services while remaining in the comfort of their own homes. This model of care provides a range of services, including care coordination, recommendations for home accessibility, and care in the home if and when it is needed.

The services are highly tailored to the individual’s needs. By opting for continuing care at home, seniors and Baby Boomers can help maintain their independence and enjoy a higher quality of life without the need to move to a nursing home or assisted living facility.

Friends Life Care is a pioneer in the continuing care at home field. For 40 years, the Quaker values nonprofit has been dedicated to its mission to help older adults successfully age in place.

Benefits of a Continuing Care at Home Program

Aging in The Place You Call Home: The high majority of people want to live independently at home as they age. They do not want to have to uproot their lives, give away all their things and make a major move later in life.

“In fact, 95% of respondents to a 2024 U.S. News survey say that aging in place is an important goal for them. Aging in place means remaining in one’s own home rather than moving to a retirement community, assisted living facility or nursing home.”

Financial Security and Asset Protection: Having a membership with a financial benefit helps cover the costs of care services. This can help reduce the potential financial burden on the older adult and their families. The goal is that aging adults will not have to deplete all their assets to pay for care.

Members can choose from a vast variety of plan options. This gives a lot of choice and flexibility. It provides the opportunity to match a plan to needs and wants now and in the future. All of the plans, however, include care coordination provided by a team of clinical professionals.

Care Coordination and Peace of Mind: Knowing they have a plan in place for future care needs can provide real peace of mind and reduce anxiety about the future.  The team of care coordinators at Friends Life Care is dedicated to being alongside members through all the seasons of growing older.

With the important focus on prevention and holistic well-being, a member can take proactive steps to maintain their health for as long as possible.

What is Your Plan for the Future?

Who doesn’t want to age comfortably with purpose, independence, security and vibrancy? If you are not yet a Friends Life Care member, you can consider incorporating continuing care at home services into your perfect recipe for aging in place.

Membership is open to people aged 40 – 85, in reasonably good health who are residents of southeastern Pennsylvania or Delaware. You can contact us today to learn about the benefits of joining. Or you can visit the website to learn more.

Longevity risk is a significant concern for aging adults. But with early planning and the right preparation, it can be managed more effectively.