SHOULD I BUY LONG TERM CARE INSURANCE?

ACCORDING TO THE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES,  70% OF PEOPLE TURNING AGE 65  EXPECT TO USE SOME FORM OF LONG TERM CARE DURING THEIR LIVES.    THE OLDER YOU ARE THE MORE LIKELY YOU ARE TO USE L.T.C.  THE LONGER  YOU LIVE THE MORE LIKELY YOU ARE TO NEED LONG TERM CARE.  THESE ARE JUST A FEW OF THE STATISTICS THAT CAN AFFECT YOUR LONG TERM CARE NEEDS.

PRO'S AND CON'S OF LONG TERM CARE

THE PRO'S OF LONG TERM CARE ARE SHORT AND TO THE POINT.  LONG TERM CARE CAN WIPE OUT YOUR ENTIRE LIFE SAVINGS .  COSTS CAN BE WELL OVER $10,000 PER MONTH DEPENDING ON YOUR SITUATION.  A PROPER INSURANCE PLAN CAN DECREASE THIS FROM HAPPENING. 

THE CONS ARE:  INSURANCE CAN BE VERY EXPENSIVE AND MAY BE UNAFFORDABLE DURING RETIREMENT YEARS. IN SOME POLICIES, IF YOU DO NOT END UP IN A NURSING HOME, YOU SPEND A LOT OF MONEY FOR NOTHING.  HOWEVER, WE HAVE WAYS OF PREVENTING THIS - ASK US FOR DETAILS.​

GET PAID TO COVER YOUR LONG TERM CARE

THERE ARE POLICIES AND INVESTMENTS  WITH A LONG TERM CARE COMPONENT, WHERE YOU CAN EARN INTEREST ON YOUR ACCOUNT.   IF YOU NEVER USE IT, THE PLAN MADE YOU  MONEY INSTEAD OF COSTING YOU MONEY.  IF YOU NEED L.T.C. COVERAGE, IT WILL THEN BE AVAILABLE FOR YOU.

PAYING YOUR FAMILY IF YOU DON'T USE YOUR LONG TERM CARE

IF YOU NEVER UTILIZE YOUR LONG TERM CARE PLAN, THERE ARE PLANS THAT WILL PAY ALL OF WHAT YOU HAVE INTO THE PLAN, PLUS A SIGNIFICANT AMOUNT MORE TO YOUR FAMILY OR BENEFICIARY.  THESE ARE LIFE INSURANCE PLANS WITH A LONG TERM CARE COMPONENT.

DOESN'T MEDICARE PAY FOR MY LONG TERM CARE STAY?

MEDICARE WILL COVER THE FULL COST OF CARE IN A SKILLED NURSING FACILITY FOR 20 DAYS, AND PARTIALLY FOR UP TO 100 DAYS.  THIS IS BASED ON THE FACT THAT THIS IS NOT A PERMANENT SITUATION  AND THAT THE PATIENT IS INDEED GETTING BETTER.

IS LONG TERM CARE INSURANCE FOR EVERYONE?

EVERYONE'S SITUATION IS DIFFERENT.  DO YOU NEED LONG TERM CARE INSURANCE?  SOME DO AND SOME DON'T.  DO YOU WANT A CONVENTIONAL PLAN, AN INVESTMENT PLAN  OR A LIFE INSURANCE PLAN?  WE CAN HELP YOU MAKE THE PROPER DECISION.

HOW  CAN  WE HELP YOU?

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