TOP 5 Long-Term Care Benefits
In addition to the FIRST DAY CASH BENEFIT already discussed, here are the Top 5 most popular reasons that families insure with our innovative, name-brand companies:
is an option that allows you to use a portion of the benefits under your partner’s identical policy, should you run out of long-term care benefits and still need care. For example, a stay for one spouse in a memory care unit could require more resources than you planned for. With shared care, you can draw from your partner’s available benefits, down to 1 year remaining.
Protect your Partner’s Income
without including long-term care insurance in your retirement planning, you may need planned retirement funds for your partner’s long-term care needs, leaving a spouse with no income or a huge shortfall. Or, instead of leaving your heirs a planned inheritance, you end up being a financial burden.
How will LTC affect our retirement income?
Our children will take care of us, right?
Peace of Mind
There are few feelings as good as knowing you’re prepared to protect your family financially, and have secured an inheritance for them after you pass. Most of us don’t realize how expensive long-term care is, but it is also true, that we are unaware of how affordable the cost of prevention is. Two or three hundred dollars a month goes a long way toward paying for future care, and keeps your family’s financial planning on solid ground.
Return on Investment
Every client illustration comes with a break-even analysis. In all cases you will recover all your premiums paid, by being on claim for just 1 year of professional long-term care. Compare that to trying to fund your long-term care with an annuity. An annuity would work great if only you knew you would not need LTC for decades. The problem is, what if a major illness or accident happens before the annuity is built up? Only long-term care insurance protects you in the future and today.
Fear of Welfare
You’ve worked hard your whole life and the last thing you want is the stigma of becoming a ward of the state. No one wants to lose control of their destiny, and living a life based on state Medicaid requirements can be a real shock to the system. As your choice of living options diminishes - isolation, depression and regret creep in.