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Long-Term Care

If you have ever experienced the complicated and difficult situation that encompasses managing an elderly relative’s long-term care (LTC), then you understand the importance of planning ahead for your own care. For those that have not experienced it, we will discuss some of the considerations and concerns that you should have when dealing with your future LTC needs and the possibility of purchasing a policy. 

The earlier you start the conversation about LTC, not only will you have more choices, but they will be more affordable. Similar to life insurance, the younger you are, the lower the annual premium will be compared to a similar policy purchased when older. In addition, you might have a better chance at of qualifying for a discount. 

There is much more that goes into purchasing a policy than just how much you want to be covered for. A LTC policy is only as expensive as you make it. There is much flexibility on plan design that allows you to build a policy that suits you. Currently, how much does care cost where you live? How long would you want coverage to last? How much coverage would you want available to pay for LTC expenses? Do you want to factor in future rising costs by building in an inflation adjustment? These are just a few of the questions that you will need to answer to begin the process. As with all of our services, please reach out to us for further information and to help you decide on a policy that works for you and your family. 

TOP REASONS THAT PEOPLE BUY LTC INSURANCE  

  • To avoid burdening loved ones with care giving roles
  • To have choice of where they get care 
  • To remain independent 
  • To remain in and receive care in their own home  
  • To not have to spend down on other assets that have been accumulated over a lifetime


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What to Look for in a Long-Term Care Policy

Here’s a list of 10 questions to ask that may help you better understand the costs and benefits of long-term-care insurance.

Understanding Long-Term Care

Understanding the types of long-term-care services—and what those services could cost—may be critical.