 Long Term Care InsurancePlacing a loved one into an assisted-living facility . . . Hiring 'round-the-clock nursing assistants or health aides . . . It takes financial resources to provide the kind of care that may be required - resources that not everyone has. Long Term Care Insurance can cover much of this expense. Unfortunately, most people learn about the benefits of Long Term Care Insurance at precisely the moment when (1) They need it, (2) They don't have it, and (3) They can't get it. Many people tell us, "I wish I knew about this years ago." Long Term Care Insurance is generally not something people think about until an elderly parent is about to enter an assisted-living facility or a family is about to contract for 'round-the-clock home health care. In other words, not until it's way too late to do anything about it. Too late to pay for a parent's health care, but not too late for yours. We've heard many adult children - particularly those who were unprepared for the financial toll taken by caring for an elderly parent - remark that they would hate to pose a similar financial burden on their own children. The good news is, they don't have to. The time to purchase Long Term Care Insurance is now. If you're young and in good health, Long Term Care Insurance may play an important role in your strategy to build wealth. How? By ensuring that your portfolio won't eventually be wiped out by the costs of health care and other quality-of-life issues you're likely to face as you get older. Fact: A Long Term Care Insurance policy purchased now, when you're young and in good health, is going to be significantly less expensive over the course of a lifetime than what you're likely to end up paying out-of-pocket for health care services when you're older. Fact: Today, a a one-year Long Term Care Insurance premium, purchased at the age of 60, is about equal to the cost of two weeks of care. The principals of Elder Connections are licensed providers of Long Term Care Insurance. For those who are interested in learning more about this option, we are happy to spell out clearly the costs and benefits so that you can make an informed decision about whether Long Term Care Insurance is right for you and your family. |
|
 | Member of the National Association of Professional Geriatric Care Managers |
