If you have not considered Long Term Care (LTC) coverage before, there is no time like the present to educate yourself and put a plan in place to protect your assets.  Whether you need in-home care,  assisted living facility, or a nursing home these services come at a great financial and emotional cost to those  of us who have worked hard all our lives to achieve a comfortable lifestyle.  Here are a few items to consider:

  1. We are living longer than ever before…two out of five Americans will need LTC at some point in their lives
  2. Neither health nor disability insurance covers long term care..that leaves only your savings if you do not have LTC coverage
  3. The national average for home health care is $1,500/month.  The national average for a care facility is $5,600/month.
  4. There are certain tax advantages to purchasing a LTC policy.  All benefit payments are generally tax free and for business owners you may be able to deduct premiums paid on behalf of employees.
  5. LTC is generally less expensive for younger, healthier people, so the longer you wait the more you will pay
  6. Many think of LTC as something they may need in their senior years, but in reality long term care can also be required as a result of a debilitating illness or accident.
  7. LTC policies offer lots of flexibility and can be customized to fit your individual needs and budget.
  8. LTC insurance can help you reduce the financial, physical, and emotional burdens on your family should you require on-going care.
  9. By putting a LTC policy in place it allows you to pass your assets onto your heirs instead of a nursing home or other care facility.
  10. A LTC policy is something you own for your lifetime and the older you get the more valuable it becomes.

Please contact us if we can answer any questions for you regarding long term care.