Financial Planners have long considered Long-term care (LTC) as one of the greatest personal financial risk today. That’s because most costs for extended care needed during recuperation from strokes, accidents, illnesses, and operations are not covered by health insurance or Medicare.
LTC is the care you may need at home if you are unable to perform daily activities on your own, such as eating, bathing, dressing, or going to the bathroom. It may also include care in the community, such as in an adult day care facility.
Long-term care insurance (LTCI) provides coverage for quality LTC that may be needed at any time in life. Without LTCI, these costs are paid from one’s personal savings and assets.
Fortunately, LTC policies can be tailored to cover varying circumstances. They are not one size fits all. When deciding which coverage you’ll need, here are a few things to consider:
- How much can you afford to contribute toward the expense of your care?
- For how long might you need LTC services?
- How much will time pass before you need to start receiving benefits from the policy?
- What’s the anticipated cost of LTC?
Please contact us to discuss your needs and objectives regarding LTC. We are looking forward to share our years of expertise to help you make informed decisions about your long-term care insurance options.
Let us help build a policy that fits your needs and budget.