Fidelity Investments is an American multinational financial services corporation. It is one of the largest mutual fund and financial services groups in the world. Founded in 1946, the company has since served North American investors. They understand and help people plan for heir future retirements. They also understand the risks that are involved that could impact your success retirement. One of the biggest involuntary risks we all face is the risk of Long Term Health Care. When you look at other risks (something happening to your home, car, etc.) they are very small risks. But the advances in medical science are allowing us to live longer than ever before. If you don’t die … you live and get older. If you don’t recover from an accident or illness … but you don’t die, you become a Long Term Care statistic. That means it costs you money since health insurance and Medicare won’t pay for a majority of these costs. Quoting from the article:
“According to Fidelity’s annual retiree health care costs estimate, the average 65-year-old couple retiring in 2014 will need an estimated $220,000 to cover health care costs during their retirement, and that is just using average life expectancy data.1 Many people will live longer and have higher costs. And that cost doesn’t include long term care (LTC) expenses.
According to the U.S. Department of Health and Human Services, about 70% of those age 65 and older will require some type of LTC services—either at home, in adult day care, in an assisted living facility, or in a traditional nursing home. The average private-pay cost of a nursing home is about $90,000 per year according to MetLife, and exceeds $100,000 in some states. Assisted living facilities average $3,477 per month. Hourly home care agency rates average $46 for a Medicare-certified home health aide and $19 for a licensed non-Medicare-certified home health aide.”
Planning for the physical, emotional and financial burdens Long Term Health Care can have on loved ones is key to protecting your 401k’s, IRA’s and other assets. This is not even mentioning the emotional and physical burdens on your family that go along with this risk.
Do you really think it won’t happen to you? People need Long Term Health Care due to illness, accidents and the impact of aging. You do understand we live longer now than ever before.
So if you are living longer than you need you understand that there is a very good chance you will need help with your activities of daily living or require supervision due to memory loss.
The famous TV doctor, Dr. Oz, has a quote which sums it up very nice:
Other then denial of the risk the other objection some people have is Long Term Care Insurance is too expensive. This is just not true. Long Term Care Insurance is VERY affordable. A married 53 year-old male can get a solid partnership plan for as little as $74 a month or less depending on health and benefits applied for. A Long Term Care Specialist, like myself, can help you design an affordable plan which fits your situation and shop for the best value from all the top companies, not just one or two.
Then you have the power of the partnership program. Many states have partnership programs available which provide dollar for dollar asset protection if you have a qualified policy. The Long-Term Care Partnership Program is a collaboration between state government and insurance companies. Under this partnership, applicants who purchase qualifying long-term care insurance policies can access Medicaid coverage while retaining assets they would normally be required to spend on their long-term care. This is referred to as dollar for dollar asset protection. This is a huge benefit to make sure you don’t lose everything in a catastrophic Long Term Care event.
So how and when do you start planning? The when is now. Most of the people that start planning are in their 40’s and 50’s and do so as part of their retirement planning. Premiums are based in large part by your AGE and HEALTH and stay at that rating forever. The American Association for Long Term Care Insurance (www.aaltci.org) suggests you work with a specialist that has at least 500 active clients in Long Term Care and who works with the top companies. In my situation, I have over 2100 clients in Long Term Care, work with all the top companies and I am endorsed by the American Association for Long Term Care Insurance. Few people in the country have my level of experience.
You can also watch the YouTube video of my radio commercial: https://www.youtube.com/watch?v=-CIjudbGd4U
Start today. I meet with people from all over the country on the telephone and by using safe screen sharing technology where you get to see my computer screen. Call and make an appointment or ask a question: 866-751-7957 or email: firstname.lastname@example.org