Dementia Takes Heavy Financial Toll Worldwide

9/26/2010

A new look at the global costs of treating dementia may serve as a reminder for people everywhere of the importance of carrying a long term insurance policy.

In its annual report that came out earlier in the week, Alzheimer's Disease International warned that the global cost of treating dementia now exceeds $604 billion - or about 1 percent of the global gross domestic product.

In fact, the report added that if these figures involved an actual country instead of a disease, that country would have the 18th largest economy in the world.

"This is a wake-up call that Alzheimer's disease and other dementias are the single most significant health and social crisis of the 21st century," said Dr. Daisy Acosta, chairman of ADI. "World governments are woefully unprepared for the social and economic disruptions this disease will cause."

Since Medicare only covers a portion of the healthcare expenses that millions of Americans will face as they pass their retirement years, long term care insurance can help provide an important form of financial stability.

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