Because your future deserves a second opinion


Long-Term Care
  • At least 70% of people over 65 will need long term care services and support at some point.1
  • 5.2 million Americans are estimated to suffer from Alzheimer’s.2
  • Get Protected! A well designed LTC plan can help cover all or a portion of long term care costs.

Traditional Long Term Care Insurance
If you are like most people, you do not want to be a financial and/or emotional burden for a loved one. Maybe you have been a caregiver yourself and want to ensure that your children don’t have to take care of you someday. A traditional long term care plan can give you the peace of mind that you want, and not be a burden on your family. A long term care policy provides a dollar amount to help you pay for covered long term care expenses. Once you qualify for benefits as defined in your policy, it can help pay for all levels of care. These include  home care, assisted living or if necessary even care in a long term care facility or nursing home.

Using Life Insurance to pay for Long Term Care Expenses
Many Americans are hesitant to purchase long term care insurance because they worry that their investment will be wasted if they don’t use it. Some insurance companies have understood the concern and created a solution by combining long term care coverage with life insurance. This means that benefits will always be paid! Either in form of payments used for long term care benefits, or if not needed, a tax free life insurance death benefit to the insured’s beneficiaries.

Using Annuities to pay for Long Term Care Expenses
Another alternative to buying a traditional long term care policy is to buy an annuity to help pay for long term care expenses. As mentioned in the last option, people are often hesitant to buy traditional long term care insurance because they worry that their investment will be wasted if they don’t use it. If this is the case, an annuity could be the solution to protect yourself from long term care expenses. In exchange for a single premium payment, you can receive a monthly income stream for a specific period or even for life. Some companies have created products that pay double or even triple that income if you need long term care. The great thing is, if you don’t use it for long term care, you can pass your funds on to your beneficiaries.

1. 2014 Medicare & You, National Medicare Handbook, Centers for Medicare and Medicaid Services, September 2013

2. 2014 Alzheimer’s Disease Facts and Figures; by Alzheimer’s Association, 2014

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