Long Term Care Planning
For most of us it just makes good sense to have plans in place to address the high costs associated with long term care.
Planning ahead is important because statistics show there is a 70% chance you will need care services if you live beyond the age of 65; and the likelihood of needing care increases as you age.
You may wish to consider planning for long term care if it is important for you to:
"You don't wish to be a burden"
Long term care planning means less emotional and financial stress on you and your family. It can provide a way to involve your family in decisions without depending on them to bear the entire burden alone.
"You want to protect your nest egg"
Planning is important because the cost of services often exceeds what you can afford to pay from your income and other investments. By preparing, you may be able to save your retirement assets and income for uses other than care, including preserving the quality of life for your spouse or your partner. With planning, there is a greater likelihood of being able to leave an estate to your heirs, because you are less likely to use up your nest egg.
"You want to stay at home"
Planning ensures your greater independence should you need care. Your choices for receiving care outside of a nursing facility and being able to stay at home or receive community-based services are greater if you plan ahead.
There are many reasons why people sometimes do not plan ahead.
First of all, it is natural for you to try not to think about the fact that you are getting older. You may not like to think about aging and one day you might need to be dependent on someone for assistance.
Also, you may not understand how expensive care is today and the difficulty of qualifying for government assistance such as Medicaid to pay for services. Many consumer-related surveys illustrate that it might be common for you to mistakenly believe that your health insurance or Medicare might pay for.
Lastly, your family may find it difficult to raise important issues with you. If you have children, they may be afraid of discussing care with you because they may be afraid of giving you the impression that they will not be there for you should your need for care arise. You may not wish to discuss plans with your children because you may wish to keep your finances private from your children or you may not wish to make your children uncomfortable.
Call me toll free at 1-800-891-5824; Or complete my easy quote request form.
I am an independent agent representing the best long term care insurance underwriters since 1998. I will send you free comparison quotes from all of the top-rated providers such as Mass Mutual, New York Life, Genworth, Mutual of Omaha, John Hancock, Northwestern Mutual, Lincoln Moneyguard, Transamerica, Pacific Life, OneAmerica/State Life and more.
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