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
November is Long-Term Care Awareness Month. Why was November selected? Simple, Long-Term Care is about family. As the holidays approach our thoughts are squarely on family. This is the time we see older family members and how the aging process has impacted their life. We realize the financial costs and burdens of aging will have a significant impact on our own savings and loved ones. This is why the holiday season is when many people start their planning.
The cost of care is high. The effect on your savings and lifestyle can be tremendous. The impact on family also creates a huge burden. Without an advance plan the consequences of Long-Term Care get placed on the shoulders of adult children, often a daughter or daughter-in-law. They have their own family, career and responsibilities. Most people don’t want to place this burden on their family. Caregiving is not easy. Managing outside caregivers also is a big responsibility. Pressure to do the right thing and manage your money while dealing with the emotions of the situation is hard for most anyone.
Long-Term Care will impact you, your family, your savings and your lifestyle. Advances in medical science and longevity means there is a high risk you or your spouse will need help with activities of daily living or even supervision because of a memory problem. Long-Term Care Insurance provides quality care in the setting you desire and reduce the burden placed on your loved ones allowing them to be family.
Former First Lady Rosalynn Carter said, “There are only four kinds of people in the world: those who have been caregivers, those who are currently caregivers, those who will be caregivers, and those who will need caregivers."
This is where I come in. I represent all the top companies including partnership plans, limited benefit plans, critical care plans and hybrid asset based plans. It is well worth your time working with a specialist, like myself, so you don’t make an error or spend more money than you need to. November and the upcoming holiday season is an outstanding time to plan to protect family and your future retirement.
Licensed nationwide, I am uniquely qualified to make the appropriate recommendations and help you shop for the best coverage at the best value. I look forward to speaking with so you can add peace-of-mind to your retirement planning. You will discover that Long-Term Care Insurance is Easy Affordable Asset Protection.
Long-Term Care News
Latest news about Long-Term Care Planning powered, with permission, from Long-Term Care Planning News.