Insurance Advisors

There are many benefits is owning a Long Term Care Insurance(LTCI), regardless of whether you use it or not.

  • Have the comfort of knowing you and /or  your spouse will never be a burden on family and friends.
  • Never worry about impoverishing your spouse should you requir4e long-term care.
  • Have the pleasure of knowing you will be free to really enjoy your retirement because your retirement assests are protected.  You will never have to “wall-off” assets “just in case.”
  • Have the joy of knowing  you will never put your children in a position of having to choose between the high cost of long term care for one parent and protecting the assets of the healthy parent.
  • Know you will be in the “private pay” category, entitling you to your choice of private pay care, should you need it.
  • Be confident you will not ruin your spouse’s health by making them your primary caregiver.
  • Substantially increase your ability to stay at home, surrounded by loved ones and friends.
  • Rest  assured that all your current hard work, planning, investing and savings will not be obliterated.
  • Know your children will never have to choose between your care and their inheritance (which often includes  the education of your grandchildren).
  • Never be forced to get rid of your beloved pet; they will be always be with you right by your side.

All of these are the top 10 benefits of owning a Long Term Care Insurance!

How Much Does Long Term Care Cost?

Long-term care can be expensive.  The cost depends on the amount and type of care you need and where you get it.  Here are some average costs for care in a nursing home, an assisted living facility, and your own home national average cost in 2010.
Nursing Home $78,000 per year for a semi-private room
Assisted Living facilities for a one bedroom unit charging $3,293 a month
Home Health Care costs average $21 per hour
People pay for long-term care in different ways.  These include individuals’ or their families’ personal resources, long-term care insurance, and some help from Medicaid for those who qualify.  Medicare, Medicare supplement insurance, and the health insurance you may have at work usually won’t pay for long-term care.

Whether you should buy a long-term care insurance policy depends on your age, health, overall retirement goals, income, and assets.  This is where I can provide you a consultative approach for you to make an educated decision in purchasing long-term care insurance.