Long-Term Care Insurance-Your Quick Guide

Here is a quick guide to Long Term Care Insurance:

It's what you must know about LTC to move you off the fence and into learning about what it is and what it can do for you and your family.
I know that most do not find the subject of insurance that interesting and nobody likes to think about Long-Term Care. But, here are some quick facts.

• Long-Term Care can happen to you. I am sure you hear about it every day. As we get older, all of us may need help and a stroke, Alzheimer's or even a bad fall can leave you debilitated and unable to care for yourself.

• If you need long-term care, you will probably have to pay for it out of own savings. If you are legally impoverished, government programs like Medicaid may cover your nursing home care.

• The bill for Long-Term Care is not cheap. According the Met Life Cost of Care Survey in 2007, the national average daily rate for a private room in a nursing home is $213 or $77,745 annually. The rate for a caregiver is around $18-$20 hour which adds up to thousands of dollars a month.

• Long-Term care insurance can be an affordable alternate to using your savings to pay for care. However, it's not right for everyone. People that already have severe health conditions may not qualify for coverage and if you are retired, with less than $70,000 in savings, purchasing insurance is probably inappropriate.

With all this being addressed, your Long-Term Care planning will be simplified with a Long-Term Care Specialist. He will help choose the carrier that will get you the best rate in designing a Long-Term Care plan that fits your needs.

Do you have a plan?

Give me a call or send an email to dane@LongTermCareInsurancePros.com to get started.

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A Simple Case for Long-Term Care Insurance

A recent article in the New York Times makes a great case for purchasing Long-Term care insurance.

The article describes in great detail the situations where men "default" into becoming primary caregivers, largely because no prior thought or conversation was given to long-term care financing and planning.

Here’s how the article starts:

“ When Peter Nicholson’s mother suffered a series of strokes last winter, he did something women have done for generations: he quit his job and moved into her West Hollywood home to care for her full time.

Since then, he has lost 45 pounds and developed anemia, in part because of the stress, and he is running out of money. But the hardest adjustment, Mr. Nicholson said, has been the emotional toll.

“The single toughest moment was when she said to me, ‘And now who are you?’ ” he said. “My whole world just dropped. That was the pinnacle of despair.””

An important question is: If Mr. Nicholson’s mother had purchased affordable long-term care insurance while she was able, how differently would this situation have turned out?

Learn about your options when doing your Long-Term Care Planning with a free consultation.

Long-Term Care Insurance helps Plan for A Secure Financial Future

I must share with you some of the flippant comments I have received from friends as well as potential clients when asked what their plans were for providing for long-term care.

"I'll just overdose"
"I'll shoot myself"
"When I will need long-term care, it won't matter, because I won't have a clue"
"I took care of my kids, they can take care of me"

Over the years, many people have given me these types of answers. I have to wonder, what are they thinking or the truth is they really don't want to think about it. Therefore, they think its funny just to be flippant about such an important part of life where you may need help with your daily activities.

Sometimes we have to face up to tasks that may not be pleasant such as:

• Your Wills (who will get what and will I insult someone)
• Your Trusts Your Health Care directives
• Your Long-Term Care Plan

It is true, that you become uncomfortable thinking and planning for that day that you may not be the same as you are today. So, while you are healthier today than you will ever be, it is time to plan.

To simplify your Long-Term Care Planning, consult with a Long Term Care Specialist. It will give you insights that will make the process more palatable. It will also let you know if Long-Term Care insurance makes sense and is affordable.

A good long-term care plan is beneficial to you and to your family.

Find out more about Long-Term care.

Long-Term Care Insurance Top Questions for 2009

As we welcome a new year filled with hope and promise, I thought it would useful to address the most Frequently Asked Questions concerning Long-Term Care Financing and Planning.

In addressing these questions, you will improve your knowledge of what Long-Term care is and what you can do to provide the best solution for you and your family.

The Top Questions:

1. What is Long-Term Care?
2. When is the right time to buy Long-Term Care Insurance?
3. What should the Policy cover?
4. How do you make sure the insurer will be around when you need the coverage?
5. Won’t Medicare pay for Long-Term care?
6. What are the Partnership plans?
7. Can’t I just invest the money?

These questions and more can be answered specifically for you, your spouse or partner and any other family members involved with a FREE consultation with a Long-Term Care Specialist

Any Other Questions?