RETIREMENT PLANNING

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As we get older, there may become a need for in-home or nursing home care.  Maximize your benefits and protect your finances with a long-term care, hybrid policy that gives you 3.5 times your premium from day one towards any type of assisted care with no waiting or elimination period.  If you want your premium back, you can have all unused funds returned or leave them to your beneficiary. 

What is long-term care insurance?
This kind of insurance policy can help you pay for care if you have a chronic illness or disability. Policies vary, with some covering only nursing care, others covering a whole range of services such as adult day care, assisted living and medical equipment. Premiums also vary depending on your age, health status, when you buy the policy and how much coverage you want.

Why is long-term care insurance important?
With the ever-increasing cost of nursing home and in-home care, the expense for such care could be out of reach for many Americans. Long-term care insurance can be a solution to help manage these expenses.

Should I consider long-term care insurance?
The National Association of Insurance Commissioners offers the following basic considerations regarding long-term care insurance.

You should consider buying long-term care insurance if:

• You have significant assets and income
  
• You want to protect some of your assets and income
  
• You want to pay for your own care
  
• You want to stay independent of the support of others

You should not consider buying long-term care insurance if:

• You can't afford the premiums
  
• You have limited assets
  
• Your only source of income is Social Security or Supplemental Security Income
  
• You often have trouble paying for basic needs such as food, medicine, housing or utilities