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Long-Term Care Insurance
Imagining a peaceful retirement??
We can help.
With more of the United States living
longer, there is now a much greater
chance that more people will suffer a
long-term disability such as degenerative
conditions (e.g. Parkinson’s, stroke, etc.), a
prolonged illness (cancer) or cognitive disorder
(Alzheimer’s). Long term
care involves many services including
home-health care, psychological and
physical services to persons requiring
supportive help for a long time. Not
everyone will need long term care, but
why risk the life you've worked so hard
to build? When the average American Baby Boomer
retires, the potential devastating
high cost of Long Term Care should be on
their mind. Long-Term Care Insurance
protects you from:
1. Being a
burden to your family
2. Protects your Nest Egg
3. Ensures you will get quality
care
4. Aversion to Welfare
5. Maintains your independence
WHAT IS LONG-TERM CARE?
Long-Term Care Insurance covers:
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custodial care is help with
daily activities such as
eating, bathing, dressing,
transferring (ex: moving from a bed
to a chair), toileting, and maintaining
your continence
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skilled nursing care or
rehabilitation training either in a
nursing facility or at home
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cognitive impairment such as
Alzheimer's, or dementia
WHAT IS THE POTENTIAL COST YOU MAY FACE?
The Costs of Long-Term Care Services can devastating
There's a reason that long-term care insurance is one of the fastest growing insurance plans on the market today; the costs of long-term care services are extreme and estimated to rise to around $200,000 per year per person in just 25 years (2030).
The average yearly cost for care paints the picture:
Nursing Home - $70,912
Home Care - $25,032
Assisted Living Facility - $32,294
In May 2006, according to an official at
Genworth Financial's
Long-Term Care unit in Richmond,
Virginia.
Those costs can wipe out your nest-egg quickly. With the average stay at 2.4 years, for instance, the average cost of nursing home care is now $139,200 per person or $278,400 for a married couple.
What are the risks of needing long-term care?
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You have about a 1 in 1200 chance
of losing everything in a house fire. (but
surely your home is covered)
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You have a 1 in 240 chance of
a major auto accident. (but you wouldn't drive
without auto insurance)
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But you have about a 50% chance
that you will need long term care at some point in
your life (so why wouldn't you insure your
independence?)
Source: "The real facts about Long
Term Care Insurance," Life Health Advisor
Magazine, April 2002.
WHERE CAN YOU RECEIVE YOUR CARE?
1. Receive
care in you own Home with Home Health
Care.
2. Assisted
Living Facilities
3. Adult Day
Care Facilities
4. Nursing Home
For a more in-depth view of long
term care insurance try:
WHO
PAYS FOR LONG TERM CARE (LTC)?
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Many people are under the false
impression that Medicare,
Medicaid, or their health insurance
will pay their Long-Term Care costs.
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Medicare has eligibility
requirements for skilled nursing
care only and pays for only 20 days
of care.
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Medicaid is a welfare program
and to qualify you must spend down
your assets to poverty levels.
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Health insurance does not cover
nursing home care.
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The reality is that individuals pay
for their own Long Term Care by
liquidating their CD's, Stocks,
Savings account, or eventually selling the
family home. Protect you and
your family from this disturbing
problem.
How would you like a Long Term
Care plan that returns all the premiums that you
have ever paid if you never use your policy?
Several of our top providers offer this
"Return of Premium Option" which will refund all
premiums paid to your family if you never use your Long
Term Care policy.
Long Term Care
Insurance Company
Ratings
Buying long-term care insurance
(LTCI) is a smart
decision for most people
between 45-80. LTC
helps pay for nursing
home care, assisted
living care, and for
home health care
assistance when you get
older and to the point
you can't take care of
yourself. Far too few
people choose to buy it
and plan for this
potential devastating
problem. Here are some
basic guidelines that
will assist you if you
are thinking of
purchasing LTC
insurance:
1. You
want to consider
companies that have been
rated "A++", A+, or A.
(by A.M. Best), which
means they have solid
financial standings. An
"A" rated company also
means they are less
likely to raise your
rates in a few years and
they will be there to
pay your claim for home
health care or nursing
home care.
2. The prime age to
buy is late 40's, 50s to early 60s.
So if you have aging
parents, talk to them
about it because you
might have to pay their
nursing home bill one
day or lose your
inheritance if they fail
to plan.
Here is a list of
companies that have been
rated either A++ or A+
by A.M. Best as of
9/1/2006
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HONOR ROLL |
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John Hancock
Life Insurance
Co. |
A++ |
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Massachusetts
Mutual Life Ins.
Co. |
A++ |
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New York Life
Insurance Co. |
A++ |
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USAA Life
Insurance. Co. |
A++ |
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Northwestern
Mutual Life |
A++ |
|
HONORABLE
MENTION
|
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Genworth
Financial
(formally GE) |
A+ |
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Metropolitan
Life Insurance
Co. |
A+ |
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Prudential
Insurance Co of
America
|
A+ |
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Allianz Life of
North America |
A |
Source: A.M. Best
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Request your
Information Now By:
The
smart, easy way to shop for Long-Term Care coverage
To receive your free
policy comparisons and quotes, please complete this
simple, secure form below, and then sit back and
relax. We will shop the entire market of companies
to find you the absolute best value! No more
moving from company to company in search of the best
product that fits your needs because we work with all
the major LTC companies and have no preference to any
one of them. We'll simply will find you the best.
Your customized
analysis includes:
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A
review of each company's financial-stability
ratings, experience, and size.
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A
thorough, side-by-side comparison of each company's
policy features.
-
Price comparisons customized to suit
your specific needs for
John
Hancock, MetLife, Genworth (GE), Allianz, Unum,
MassMutual, and
New York Life.
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