Few Americans have a plan for their long-term care. They insure their short-term health care but not their long-term health care.
More than 60% of Americans will need care not covered by their current health or Medicare insurance. (GAO 2006 Study)
Many will spend their life savings and retirement money for long-term care expenses.
The only thing protecting you today from the cost of long-term care is your health.
Prepare for long-term care while you still have choices.
DO YOU NEED A LONG-TERM CARE PLAN?
Do you believe you are going to live a long life?
Do you think may need assistance because of age, illness or accident?
Do you realize that your health could change at any time and that you might become uninsurable and have to pay for care yourself?
Are you comfortable with continuing to self-insure as you are now with the cost of care well over $70,000 per year.
Do you understand the consequences your care will have on your finances and on those around you?
Is there any reason you should not make a long-term care plan today?
PLAN TODAY FOR TOMORROW
Anyone concerned about protecting their life savings and assets for themselves, their family, and heirs must plan for long-term care.
The number one problem is that people don't think they'll need it, or maybe they'll need it sometime in the future, but not now, not today.
On their way to the store they get rear-ended and need months or a lifetime of care. Then they learn that their health insurance only covers the first few weeks. Reality has a way of overcoming denial.
The need for long-term care can be caused by such things as motor vehicle accidents, falls, sports injuries, strokes, heart attacks, surgery, illness, old age and frailty.
Healthy, active people of any age can suddenly find themselves in the situation where their lives are changed.
YOUR LONG-TERM HEALTH CARE FUNDING CHOICES
* Self-Insure (self, family)
If you don't have long-term care insurance you are self-insured.
* Long-Term Care Insurance
Provides funds for all long-term care including custodial which is the majority of long-term care.
* Government Assistance
Medicare provides limited care up to 100 days.
Medicaid provides for welfare health care when you meet the poverty level income and asset requirements.
YOUR CURRENT LONG-TERM HEALTH CARE PLAN
Whether you know it or not, you already have one of these three plans.
You are either:
1) self-insured
2) protected with an insurance policy
3) counting on government assistance
1) Some people decide to self-insure. They risk spending $70,000 or more a year of their savings. Yet they insure lesser risks to their homes, cars, and short-term health.
Some people plan to rely on their spouses or family if they need help. Are you ready to place this burden on loved ones? What if they cannot provide the level of care that is needed?
If you are self-insuring and need help who do you hire?
Most often people are left guessing as to the reliability, competence, and honesty of care providers.
Wouldn't you rather have a professional handle care management?
2) Some people buy long-term care insurance. They are leveraging their money as they do when insuring their homes, cars and health. They see insurance as a way to protect their nest egg, get quality care, and not be a burden on others.
3) People without income or savings are likely to rely on government aid (welfare) for long-term care. Some people who self-insure for long-term care spend their savings and then have to rely on government assistance.
SHOULD YOU KEEP YOUR CURRENT PLAN?
If your current plan is to self-insure but you think you might want to transfer the risk, first get a quote and find out if it's affordable.
If it's affordable, decide whether to continue to carry the risk yourself or transfer the risk.
If you transfer the risk you will have the peace of mind that there is nothing else that could involuntarily deplete your assets. Your nest egg is protected.
The time to start protecting your income, assets and lifestyle is now before your health changes which could disqualify you.
You can't buy homeowners insurance when your house is on fire and you can't buy long-term care insurance if you can't health qualify.
Why risk the devastation that occurs with long-term care when you don't have to?
TAKE ACTION NOW!
No one wants to make a mistake.
There are only 4 scenarios from this point forward.
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Would it have been a mistake to insure for Long-Term Care?
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| 1. | You Insure for LTC | You Need LTC | No Mistake |
| 2. | You Don't Insure for LTC | You Don't Need LTC | No Mistake |
| 3. | You Insure for LTC | You Don't Need LTC | Yes Mistake |
| 4. | You Don't Insure for LTC | You Need LTC | Yes Mistake |
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Which mistake would you rather make?
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First - Get quotes from GTLTC, and InsureMe
Second - apply to see if you can even qualify, there is no obligation to.
Third - create a plan for the inevitability of needing long-term care so
that your finances are not devastated and your family is not burdened.
If you think that by putting off deciding you are not deciding, you just did.
