FINANCIAL PEACE OF MIND

LONG-TERM CARE INSURANCE. The biggest thing that can derail a retirement plan is an extended health care event. Long-term care planning, is the cornerstone of many financial plans, and there are a variety of ways to fund it.

 

WHERE? WHO? HOW? Have you planned for your future long-term care needs? Where do you want to receive care in the event? Majority want to be home to receive care. Who will provide the care?

According to the U.S. Department of Health and Human Services, approximately 70% of Americans turning 65 in the near future will require long-term care at some point.

 

There are different paths to choose. There is traditional, comprehensive long-term care insurance (premium based), and Hybrid policies (asset based) that combine long-term care and life benefits using life insurance or annuities. There are many benefits to the hybrid ie; return of premium, and payment options.

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Long-term care insurance transfers financial risk, helps provide peace of mind, and gives you the power of choice: How you receive your care, when you receive your care, and who is providing your care.

 

What is long-term care exactly? Long-term care is ongoing assistance someone needs to do basic daily activities as the result of a chronic health challenge or cognitive impairment. These various home, community-based and facility services are generally not covered by private health insurance or government programs.