Many lawyers and advisors are now reluctant to recommend against Long Term Care Insurance for fear of law suits from the children. When the children have spent hundreds of thousands of dollars that was required to pay for their parents Long Term Care knowing that the money was coming out of their inheritance.
Planners who fail to recommend coverage are more times than not, unaware of the real RISK of needing care one day.
The senior has now become the GREATEST financial risk that Americans face today. The majority of them are unaware of it because let's face it: No One wants to think about needing Long Term Care. It is going to happen to someone else!
Long Term Care is the biggest reason for financial failures among seniors today. Yet there are a lot of Financial Planners and Investment Advisors who will say that you don't need Long Term Care Insurance. If you already have a lot of money, perhaps you don't!
The question is: Would it be a smart decision to have this coverage?
What we are seeing today are many Financial Planners split on the subject of LTC Insurance. You will hear some say that if you have any resources you should not be without it, that it is an integral part of financial planning, while others think if you have enough money you should self-insure.
Who is right?
Every financial advisor I talk with would recommend long term care coverage if he knew in advance that his client would need several years of long term care.
It must be concluded that Financial advisors who recommend against LTC Insurance figure you are not going to need care since they would recommend you obtain coverage if they knew you were going to have to spend several hundred thousand dollars.
You should find out from the advisor what is the BASIS for their prediction? Also, be aware that Advisors are sales people. They are in the business of making you money. If you purchase Long Term Care Insurance, you have less money for them to manage!
The decision is yours.
At this point in your life, are you more interested in making a few more thousand dollars a year or are you more interested in protecting what you have already earned from the most DEVASTATING financial risk that people face in America today?
One of the biggest financial mistakes a person can make today is needing Long-Term Care and having no coverage! Is this a mistake you want to take a chance on making? Seek out a Long-Term Care Insurance Specialist to help you make the best informed decision for you and your family.
Remember, your Financial Planner or Advisor is not going to pay your long term care bills.
You will!
If you wish to speak directly to a Long-Term Care specialist, just call 949-854-3001 or Toll-Free 877-GO-4-LCTi or email at dane@LongTermCareInsurancePros.com
Tuesday, September 25, 2007
Tuesday, September 18, 2007
The Smart Choice--Long-Term Care Insurance
The purchase of Long-Term care insurance can be compared to the delaying of a most needed visit to the Doctor’s office.
You know it’s in your best interest to make that appointment and follow through with the visit, but fear and procrastination get the best of you.
The longer you delay, the greater the anxiety. Once the appointment has taken place, the anxiety vanishes. It is the same with Long-Term care insurance.
Once it has been purchased, clients breathe a “sign of relief” knowing that they have done everything they can to protect themselves and their families.
Ask Mr Long Term Care is the trusted advisor who helps motivate and educate you in this rapidly changing industry.
It’s not too early to put this plan in place.
AskMrLongTermCare is a specialist in Long-Term Care insurance.
Long-Term Care insurance is What we Do!
For immediate attention, Call 949-854-3001 or 877-GO-4-LTCi
You know it’s in your best interest to make that appointment and follow through with the visit, but fear and procrastination get the best of you.
The longer you delay, the greater the anxiety. Once the appointment has taken place, the anxiety vanishes. It is the same with Long-Term care insurance.
Once it has been purchased, clients breathe a “sign of relief” knowing that they have done everything they can to protect themselves and their families.
Ask Mr Long Term Care is the trusted advisor who helps motivate and educate you in this rapidly changing industry.
It’s not too early to put this plan in place.
AskMrLongTermCare is a specialist in Long-Term Care insurance.
Long-Term Care insurance is What we Do!
For immediate attention, Call 949-854-3001 or 877-GO-4-LTCi
Tuesday, September 11, 2007
More Seniors Tap Their Homes for Income
More older Americans wanting to take advantage of the rise in home prices over the past decade without having to move are considering a reverse mortgage to tap their equity. About 150,000 homeowners will apply for one this year -- twice last year's number, reports the National Reverse Mortgage Lenders Association.
With a reverse mortgage, you receive tax-free cash instead of making payments. Your debt increases rather than decreases, but you do not have to repay it until you move. If you die, your estate settles up. Payout options include a line of credit or fixed monthly payments for life or a specific period. You must be 62 to qualify.
The most common type is the federally insured home-equity conversion mortgage, which is subject to the Federal Housing Administration's loan limits ($362,790 for high-cost urban areas, $200,160 elsewhere), but you will get only a percentage of that.
The exact amount depends on your locale, your age, your equity in your home and the interest rate. For now, high up-front fees make reverse mortgages useful mainly for people who plan to stay in their homes for more than a few years and have few other assets.
Reverse mortgages may be an excellent way to increase your monthly income in retirement. The additional income can help pay for Long-term care insurance premiums to further protect your income stream and your financial "quality of life."
To get your questions answered, contact a Long-Term Care specialist
For immediate attention call Dane at 949-854-3001
Long-Term Care insurance is What We Do!
With a reverse mortgage, you receive tax-free cash instead of making payments. Your debt increases rather than decreases, but you do not have to repay it until you move. If you die, your estate settles up. Payout options include a line of credit or fixed monthly payments for life or a specific period. You must be 62 to qualify.
The most common type is the federally insured home-equity conversion mortgage, which is subject to the Federal Housing Administration's loan limits ($362,790 for high-cost urban areas, $200,160 elsewhere), but you will get only a percentage of that.
The exact amount depends on your locale, your age, your equity in your home and the interest rate. For now, high up-front fees make reverse mortgages useful mainly for people who plan to stay in their homes for more than a few years and have few other assets.
Reverse mortgages may be an excellent way to increase your monthly income in retirement. The additional income can help pay for Long-term care insurance premiums to further protect your income stream and your financial "quality of life."
To get your questions answered, contact a Long-Term Care specialist
For immediate attention call Dane at 949-854-3001
Long-Term Care insurance is What We Do!
Saturday, September 8, 2007
Six Retirement Questions Everyone Must Answer
Retirement provides a chance to enjoy the fruits of one's labor. However, a pleasurable retirement requires proactive and thorough planning. With this in mind, we're going to go through six questions that every person should ask themselves as they approach retirement. Answering these questions for yourself should help guide your ongoing retirement plans.
1.) What's the grand plan?
2.) Do you have the cash?
3.) Do you have a plan in place for Long-Term Care?
4.) Should you move?
5.) When should you sell your home?
6.) Have you made an estate plan?
Read the entire article
To simplify, your Long-Term Care planning, contact a dedicated specialist in this field.
Sunday, September 2, 2007
The Dangers of Long-Term Care...It's About Your Family
Long-Term Care insurance has a place and there are good uses for it. "Some people own it for asset protection, estate preservation or an aversion to welfare. I think you should own Long-Term Care insurance to protect your most precious asset: Your Family," says Dane A. Petchul, Long-Term Care Specialist.
Asset protection - O.K., estate preservation (same thing really), aversion to Welfare-O.K. Protecting your family, Definitely!
One should consider the following factors before becoming a caregiver or asking a family member to take over the responsibility
1) Will a family member have the time and financial ability to become a full time or even part time caregiver? Primary caregivers duties can average between 40 to 60 hours a week.
2) Will a family member have the physical strength and ability to provide care? Serious back, shoulder and arm injuries are common in caregivers, due to improper transferring techniques or inadequate assistance with transferring.
3) Will any family member be emotionally stable and compassionate enough to deal with the intense and unrelenting stress of caregiving? High stress levels can be a major factor for caregivers. Elder care abuse, due to high stress, is just as prevalent, if not more so, from family members as it is from paid professionals.
4) Is any family member trained to provide the physical necessary care? Inserting catheters and I.V.s, giving shots or administering medicine to a possibly uncooperative dementia sufferer takes training, organization and a discerning eye. So does caring for pressure sores or watching for potentially dangerous changes in health.
5) Will any family member be willing to give up their current lifestyle in order to provide care for you?
Keep this in mind: While providing care can be an enriching and fulfilling experience for some, many caregivers do it out of guilt or a sense of obligation.
Most people do not consider the negative impacts on their social life or physical, mental or emotional health before volunteering to become someone's caregiver.
For instance, more than 1/3 of caregivers experience depression and anxiety. Caregivers tend to forget to or, due to the extent of their duties, cannot sufficiently take care of themselves. Interrupted sleep, less attention to dietary needs, inadequate exercise and physical injuries often afflict caregivers. Increased mental, physical and emotional stress can cause high blood pressure, lowered immune system and coronary problems, just to name a few.
Shockingly, caregivers who have high levels of stress, when compared to non-caregivers, are 63 percent more likely to die within the next 4 years.
When you are considering relying upon family or friends that are "close by", ask yourself this:
Is there a family member that has the dedication and the inclination to do the dirty work?
Are they willing to get you out of bed, bathed, dressed, teeth and hair brushed, fed, toileted and kept comfortable - every day until you die?
Is there a family member or friend who would be willing to be at your beck and call every moment of the day?
Is there someone "close by" who will be willing, or with whom you will be comfortable enough, to wipe your backside after you use the toilet, or to clean up your poo or urine from the floor and furniture if you have an accident, or to change your diapers or catheter should you become totally incontinent?
Would you even want to put that kind of responsibility and stress on any of your loved ones, if there was another option?
This is the down and dirty, real-world, in-the-trenches caregiving.
So, considering the risk factor that almost half of all Americans will need long term care sometime in their life, every one of us had better take a very good look at what may be in store if we become so challenged… and we had better plan accordingly now while we still can.
It is certainly a lot easier to go into a long term care facility as a paying patient than to have to go broke and accept Medicaid."Yes, it is. Especially if you have a spouse, because your spouse will end up on the raw end of the deal, with no savings to speak of, according to prevailing state law.
Without insurance, all assets must be "spent down" for care before Medicaid can kick in.
The insurance may be expensive, but you may be willing to budget it into your lifestyle today- in other words, bear the cost of buying the insurance - for the promise of tomorrow's security.
The younger you are when you buy long-term care insurance, of course, the less the premiums are This trade-off is the nature of all insurance. Isn’t the reason we have insurance is because we love our families.
To see if this is appropriate for you and your family, get your Free, No Hassle, No Obligation Long-Term Care insurance quote today!
Asset protection - O.K., estate preservation (same thing really), aversion to Welfare-O.K. Protecting your family, Definitely!
One should consider the following factors before becoming a caregiver or asking a family member to take over the responsibility
1) Will a family member have the time and financial ability to become a full time or even part time caregiver? Primary caregivers duties can average between 40 to 60 hours a week.
2) Will a family member have the physical strength and ability to provide care? Serious back, shoulder and arm injuries are common in caregivers, due to improper transferring techniques or inadequate assistance with transferring.
3) Will any family member be emotionally stable and compassionate enough to deal with the intense and unrelenting stress of caregiving? High stress levels can be a major factor for caregivers. Elder care abuse, due to high stress, is just as prevalent, if not more so, from family members as it is from paid professionals.
4) Is any family member trained to provide the physical necessary care? Inserting catheters and I.V.s, giving shots or administering medicine to a possibly uncooperative dementia sufferer takes training, organization and a discerning eye. So does caring for pressure sores or watching for potentially dangerous changes in health.
5) Will any family member be willing to give up their current lifestyle in order to provide care for you?
Keep this in mind: While providing care can be an enriching and fulfilling experience for some, many caregivers do it out of guilt or a sense of obligation.
Most people do not consider the negative impacts on their social life or physical, mental or emotional health before volunteering to become someone's caregiver.
For instance, more than 1/3 of caregivers experience depression and anxiety. Caregivers tend to forget to or, due to the extent of their duties, cannot sufficiently take care of themselves. Interrupted sleep, less attention to dietary needs, inadequate exercise and physical injuries often afflict caregivers. Increased mental, physical and emotional stress can cause high blood pressure, lowered immune system and coronary problems, just to name a few.
Shockingly, caregivers who have high levels of stress, when compared to non-caregivers, are 63 percent more likely to die within the next 4 years.
When you are considering relying upon family or friends that are "close by", ask yourself this:
Is there a family member that has the dedication and the inclination to do the dirty work?
Are they willing to get you out of bed, bathed, dressed, teeth and hair brushed, fed, toileted and kept comfortable - every day until you die?
Is there a family member or friend who would be willing to be at your beck and call every moment of the day?
Is there someone "close by" who will be willing, or with whom you will be comfortable enough, to wipe your backside after you use the toilet, or to clean up your poo or urine from the floor and furniture if you have an accident, or to change your diapers or catheter should you become totally incontinent?
Would you even want to put that kind of responsibility and stress on any of your loved ones, if there was another option?
This is the down and dirty, real-world, in-the-trenches caregiving.
So, considering the risk factor that almost half of all Americans will need long term care sometime in their life, every one of us had better take a very good look at what may be in store if we become so challenged… and we had better plan accordingly now while we still can.
It is certainly a lot easier to go into a long term care facility as a paying patient than to have to go broke and accept Medicaid."Yes, it is. Especially if you have a spouse, because your spouse will end up on the raw end of the deal, with no savings to speak of, according to prevailing state law.
Without insurance, all assets must be "spent down" for care before Medicaid can kick in.
The insurance may be expensive, but you may be willing to budget it into your lifestyle today- in other words, bear the cost of buying the insurance - for the promise of tomorrow's security.
The younger you are when you buy long-term care insurance, of course, the less the premiums are This trade-off is the nature of all insurance. Isn’t the reason we have insurance is because we love our families.
To see if this is appropriate for you and your family, get your Free, No Hassle, No Obligation Long-Term Care insurance quote today!
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