You work hard and save for decades so that you can enjoy your retirement. The last thing you want is to have to spend all your hard-earned money on health care later in life. Long term care insurance can be a great financial tool to help you make sure you are prepared to cover the costs of care.

Learn more below and request a consultation to discuss long-term care and how you can fit it into your comprehensive financial plan.

Long-Term Care (LTC) Planning

Including the right insurance coverages in your financial plan can help to mitigate the impact of external risk on your financial goals. That includes the potential need for long-term health care. Long-term care costs can be incredibly expensive. We will help you determine if LTC insurance is right for you and help you create a plan to address how you might pay for LTC, should the need arise.

Why Should You Consider LTC Insurance

70% of individuals who reach the age of 65 need some type of long-term care during their lifetime. The average long-term care need lasts for three years. This can really wreak havoc on an otherwise secure financial plan. Long-term care insurance can help keep you from spending all your hard-earned savings on healthcare. It also means you can have more healthcare options, since you will not be as limited by price. Most long-term care insurance reimburses you for care received in a variety of places—like your home, a nursing home, an assisted living facility, or an adult day care center.

What Does it Cover?

When planning for your future healthcare costs, it is important to know that Medicare covers little to no long-term care costs. Long-term care insurance, however, offers coverage for many services related to a chronic medical condition, disability, and disorders such as Alzheimer’s disease that regular health insurance does not.

When You Should Consider LTC Insurance?

In your 50s and early 60s is the prime time to consider purchasing long-term care insurance. This may feel early, but the goal is to have the coverage before you need it. Financial planning is about taking steps to make sure you are prepared. If you wait until you are already paying for long-term care, it’ll be too late..

Let Us Get Started

Knowing you are prepared to cover the expense of long-term care can help bring peace of mind. With long-term care insurance, you can spend more of the money you have saved the way you want, as opposed to being forced to spend it on healthcare. Schedule a call today to discuss a variety of factors and options so that you can find the insurance products that meet your needs.