Don’t Have Long-Term Care
None of us need another bill to pay, but not having this protection could and will destroy your finances long before you’re old and will eliminate your legacy to your children and grandchildren.
Many people are counting on the government, our children or our own savings to take care of us. Thinking about nursing homes is enough to make us sick. Some of us think we are too young to think about this issue.
Not having a Long-Term Care Insurance policy can be one of the most expensive mistakes you will ever make.
Medicare pays for medical expenses. It does not pay for custodial care, the day-to-day
care people need due to age, illness or accidents.
Medicaid is Welfare. You probably do not depend on it now and you wouldn’t want to depend on it later. You have to be impoverished or make yourself that way. And you would have no choice in whom or where care would be provided.
I have an idea…take a tour of all Medicaid facilities that accept new Medicaid patients before you decide to be at the mercy of the state.
Where is your help?
The Kids – You might assume that could work (check with them first). What about if they are raising their children and/or working full time? Your daughter may say move in, but what about the son-in-law. Also, what happens if you need more care then they are able to provide?
You could allocate savings to pay, and if you’re extremely wealthy it might work. But at an average cost of $70,000 – $100,000 and higher a year, how long would your savings last?
Long-Term Care is not just for a year or two. Someone with Alzheimer’s could need care for 10 years or more. A person with Multiple Sclerosis in their 50’s could live for decades, and with good Long-Term Care Insurance, they stand a better chance of staying independent and have some enjoyable years.
When should you buy – The younger, the better! Rates are lower, but more importantly, is the likelihood your medical history is good and you can qualify. Always remember that regardless of your age, your medical history buys the policy not your money.
For some people, the need for Long-Term Care comes suddenly and without this valuable coverage it becomes a life altering event.
Again, I offer to discuss how to obtain this valuable coverage as well as to describe the details of this insurance.
Talk to your family. Make this evening’s conversation a gift to you and a gift to your entire family.
Abe Glickman, LTCA, LTCP
Member: AALTCI, NAHU, NAIFA, SOA
Abe Glickman Insurance Group
Toll-Free Phone: 877-298-5824
“It is better to create a plan 10 years too soon than one day too late.”
Comments? Give me a call!