Long Term Care Insurance:
The final piece in the senior asset protection puzzle.
and news reports on Long Term Health Care Insurance are becoming
increasingly common in newspapers, magazines and other sources targeted
at the "senior market." But the truth is, multiple surveys
have been conducted, most of which continue to show that Americans
are not planning for Long Term Care and have no idea what it will
a Free, Long Term Care Price Quote...
and receive the FREE e-book, "Insiders Guide To Long Term
Care Insurance", and a referral to an LTC Professional.
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information you provide is treated as confidentially and will
only be used for the purpose of providing you with the best
long term care insurance premiums available.)
is Long-term Care insurance, you might ask? It's a type of insurance
that will pay for care in your home, in an assisted living facility,
or in a nursing home when you reach the age and/or state of health
that requires such care. Notice, we said "when," not "if."
That's because the odds are against us. Modern medical practices,
whether health care givers want to admit it or not, are designed
to keep us alive, but not to cure us. The result, as we live longer
and longer, getting sicker and sicker, needing ever newer, more
complex, and more expensive drugs, is that we are more likely than
ever in the history of the human race to need extended maintenance
or custodial care before we die.
It is an egotistical
irony that as Americans, we insure just about everything we can
think of—except our own futures. We have fire insurance, car
insurance, health insurance, and life insurance. In a last ditch
attempt to pass on our accumulated assets according to our own preferences,
many of us are still transferring property and trying to manipulate
All of that trouble...and
we still aren't doing the one thing that would protect our assets
in our senior years more than any other single thing we could do.
We are still letting year after year pass—tempting fate—without
making sure the funds will be in place to pay for our care in those
last few years. And let's not kid ourselves. Statistics report that
65% of all people over the age of 60 will need Long Term Care at
some point before they die, whether it be for years or just for
a few months, and Medicaid will not pay for it unless assets are
first exhausted leaving you and your spouse nearly penniless.
Furthermore, if you own
so much as a house and a life insurance policy, and Medicaid does
step in and pay the bill, the state will claim that house and whatever
is left of the life insurance after burial expenses have been paid.
The number one reason
that people put off buying LTCi is that they think it will be "expensive."
The cost of a nursing home averages $72,000 per year. How long will
your assets last at that rate? If you are in your 50s or 60s, you
can probably find a LTC policy for $1800 to $3000 per year. That
means that a full year's premium would be less than just one
month in a nursing home. How can anyone consider that expensive?
Why put it off any longer?
take care to fill in the last piece of your senior puzzle now.
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