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Click on the video below to learn more about the importance of Long Term Care Planning.
Long-term care can certainly be an emotionally charged topic. Let’s face it, nobody wants to think about themselves or their loved ones aging and becoming incapable of living on their own. But if you have an interest in making a smart financial decision to protect your savings, long-term care insurance is a MUST.
What Exactly Is Long-Term Care?
As people get older or get sick, they sometimes need help with Activities of Daily Living (ADLs) such as getting dressed, bathing and more. Long-term care provides people with those services—but it comes with a price as it is expensive. According to the Alzheimer’s Association, the estimated cost for end-of-life care in 2016 ranged between $217,820 and $341,651. Most health and disability insurances WILL NOT cover long-term care, but long-term care insurance WILL.
Let’s Get Started!
As with any type of insurance, you buy LTC coverage with the expectation that you’ll never have to use it. But if you do have to use it, the nursing home costs covered by the policy over just one year will be greater than the sum of all the premiums you ever paid. So, if you’ve been considering Long Term Care insurance, do yourself a favor – schedule a review and let’s start that conversation.
Cameron A. Michels
Insurance Advisor / Planner
PLANWELL Wealth Solutions