If you are like many people you may have thought your health insurance or Medicare (for those 65 and older) would pay for extended Long Term Health Care. “No worries” you say. Generally most people think this UNLESS they have a personal experience, parent or grandparent, aunt or uncle, maybe a co-worker or neighbor. Then you discover the financial costs and burdens of aging. Wait, many people are not “old” when they need care. You’re right. People need Long Term Health Care due to illnesses, accidents and the impact of aging. People require extended care at all ages. Take a look:
How would a Long Term Health Care situation impact your savings? Your family? Your future? How would spending down retirement savings impact the lifestyle of your spouse? How would that impact your adult children … your grandchildren?
Affordable Long Term Care Insurance will provide the resources so you can take this catastrophic situation and make it manageable. Premiums are affordable. Premiums can be in some situations tax deductible. If you have a Health Savings Account (HSA) you can pay premiums from there using pre-tax dollars. Proceeds from a policy are always tax-free. Most states have LTC Partnership policies available to you. These plans provide dollar-for-dollar asset protection.
Yes, premiums are very affordable, especially if you are in good health.
When do you plan? If you are saving money for retirement and contributing to your 401(k) at work, or a personal IRA or SEP or 403(b) you should be safeguarding your accounts. While best time is in your 40’s and 50’s, plans are available and affordable at most ages.
If you are married or have a partner ask me about shared care policies as well. The time to act is now … you can’t wait until you need care. At that point it is too late.
Get your free quotes and learn your options. For FREE QUOTES: www.quoteonltc.com
Visit the Matt McCann website for information on LTC Planning: http://mccannltc.net/
LTC Planning News is an outstanding resource I use for articles, links, videos and more on LTC Planning: http://longtermcareplanningnews.com/
The US Department of Health & Human Services LTC site: http://longtermcare.gov/
The American Association for Long Term Care Insurance (AALTCI): www.aaltci.org
Don’t just let things happen and place the burden of caregiving on your spouse or adult children. That doesn’t work. Nor should you risk your hard earned assets. LTC insurance is affordable and easy … let me help you discover how easy it can be!