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Long-Term Care Insurance

Discussions regarding long-term care are never easy. Clients who have experienced this problem in their own families know of the emotional burden being the 'caregiver', as well as the financial devastation it can cause.  As with life planning, a critical question regarding family protection is "Will your family have adequate resources in the event of an unexpected injury or illness to maintain your current standard of living?"

Our planning focuses on education first, then on developing a long-term care plan that is best suited to your needs. There are only two solutions to this issue:

  • Self-Insuring 

  • Obtaining long-term care protections (insurance) 

  • Long term care is day-in, day-out assistance you need when you have a serious illness or disability that lasts for a period of time, and you are not able to care for yourself.  Generally, if you need assistance with two of the six activities of daily living (ADLs), or if you have a cognitive impairment, benefits may be received from a long term care policy.  Care may be received in the home, an adult day care facility, assisted living facility, or nursing home.

  • Long term care insurance not only protects assets and income, it protects family members from having to take on the added emotional, physical, and financial burden of care giving.

  • According to the Department of Health and Human Services, the cost of long term care is paid for by:

  • Why Medicaid and Medicare May Not Help
  • While Medicaid provides benefits for long term care, it was enacted to provide services for the impoverished.  One would have to “spend down” their assets to federal poverty levels prior to applying for Medicaid. You generally are not eligible for Medicaid benefits unless you have depleted your assets and your life savings.

Whatever path you choose, the goal is to provide you the information necessary to make the decision that is right for you and your family.

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