November is National Long Term Care Awareness Month. As the holidays approach, it is time to learn your options to safeguard future retirement income and savings, ease the burden on family and maintain your independence and control. The financial costs and burdens of aging will impact you and your loved ones. Affordable Long Term Care insurance will address these concerns and protect your 401k IRA 403b.
November has been declared Long-Term Care Awareness Month because even the U.S. Congress recognizes the importance of making people aware of the risks and costs associated with Long Term Care. As a professional committed to helping people protect themselves against the risks of extended Long Term Health Care, I encourage you to take this topic seriously. It can impact you and loved ones.
Some things I believe you need to know about LTC:
You’re probably not covered. Many people mistakenly believe they are covered for Long Term Care, but this assistance is not typically covered by your health or long-term disability insurance. This means your hard-earned savings are impacted. This will impact your future retirement income and the lifestyle you and your family wish to have … not to mention any estate you wish to leave your children and grandchildren.
Government programs aren’t designed to pay for all your LTC needs. Medicare only pays for skilled care, while Medicaid only covers the very poor – those whose assets are at or below state-required levels. These programs often don’t cover care provided in your own home.
This is important to know: Long Term Care doesn’t mean nursing home care. In fact, the majority of people who need extended care remain in their own home or in their community. Most LTC insurance policies will cover people in all care settings including the home. That’s a significant benefit.
Your age and health make a big difference in what protection costs.
Many people put off looking into LTC insurance protection. Waiting to plan can be a mistake because the cost of insurance is based on your age, health and the amount of benefits to wish to have. The premiums re intended to remain level but if you wait your health usually will change plus premiums will increase every year you wait.
Your health is also a most important factor. Waiting to plan can be a costly mistake because a change in your health can make you ineligible for this protection (no matter how much you are willing to pay).
The fact is affordable Long Term Care Insurance will safeguard your income and savings and ease the burdens on family. The financial costs and burdens of aging have a real impact on your life, your family and your assets. Learning about your options is easy but always speak with a real specialist in Long Term Care. Few agents or financial planners understand the plans, understand the partnership program available in most states (which offer additional dollar-for-dollar asset protection), or understand underwriting which differs which each company.
With over 18 years of experience, over 3300 living clients and lots of claim experience I can answer your questions and show you your options. Plus, I am endorsed by the American Association for Long Term Care Insurance.
Act now to learn before you retire – www.mccannltc.net