McCann Insurance Services
Long-Term Care, Critical Care, and Asset Protection Planning
Understanding Long-Term Care Insurance (LTCi)
Long-Term Care is help with activities of daily living (ADL’s) or supervision due to cognitive issues. People require long-term care due to illness, accidents or the impact of aging. It can happen at any age but the risk increases as we age. Health insurance, Medicare and Medicare Supplements will only pay for a limited amount of skilled care. Most long-term care is custodial in nature (help with ADL’s or supervision due to memory problems like Alzheimer’s and dementia). Custodial care is NOT covered by health insurance, Medicare or Medicare Supplements. This means unless you have affordable Long-Term Care Insurance you will pay for care yourself or your family will provide care thus placing a physical, emotional and financial burden on them. The best time to plan is before you retire, however affordable solutions are available at most ages depending on your health.
Long-Term Care Insurance will pay tax-free benefits to provide you with choice of quality caregivers at home or in a facility.
Who Needs It
With the advances in medical science, we all are living longer. People require long-term care due to illness, accidents or the impact of aging. The US Department of Health and Human Services says if you reach the age of 65 you have a 70% chance of needing some type of long-term care service before you pass.
Why LTC Insurance
The financial costs and burdens of aging will impact you, your family, your savings and your lifestyle. A successful future or current retirement should include a plan to safeguard your assets and ease the burden long-term care places on family. The consequences are tremendous but affordable LTC insurance will add peace-of-mind.
How To Get LTC Insurance
There are very few specialists that have the knowledge and expertise in underwriting, policy features and benefits, tax incentives, knowledge of state partnership programs, and claims experience. Very few people are endorsed by the American Association for Long-Term Care Insurance.
Memo From Matt
Often a financial planner or your life or auto insurance agent will discuss the need for long-term care planning. Most of the time they have little or no experience with Long-Term Care Insurance and the many products that are available to address the financial costs and burdens of aging. Many times they only work with one or two insurance companies or have advanced knowledge of underwriting, policy design, partnership benefits or how these plans actually get used at the time of claim.
With thousands of clients we have extensive experience on how these policies can help you and your family safeguard assets and reduce the burden extended care places on your loved ones. Each company has different health standards and pricing. It is well worth your time working with a specialist so you don’t make an error or spend more money than you need to. Long-Term Care Insurance is an affordable way to protect your future or current retirement.
Licensed nationwide I look forward to speaking with so you can add peace-of-mind to your retirement planning.
Long-Term Care News
Latest news about Long-Term Care Planning powered, with permission, from Long-Term Care Planning News.