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Long Term Care Insurance; Yes or No?

Hi everyone, one of the questions that we get asked frequently these days from our clients is: Is long term care insurance right for me and/or my spouse???? That is a great question with many different answers depending on your specific situation.

Statistics show that 70% of those over the age of 65 will someday need long term care services. Having experienced a very tough family decision to put my dad in a nursing home, my thoughts on the need for long term care insurance have changed a bit. The current strategy for most Americans is to be self insured. However, this strategy usually works for high net worth individuals, for those that can afford the premium within their monthly budget, and for those who are of modest means and will quickly qualify for Medicaid benefits.

As the cost of home care or nursing home care keeps increasing, more and more people really could use the protection against family asset loss. Most people only need coverage for a 2 to 3 year time period and much of that time is spent at home with family and friends helping out. We would like you to give us a call so we can help explain the cost/benefit analysis we can do for you and how and when Medicaid comes into play. Our paraplanner, Matt Cosgriff, is ready to analyze your specific situation.

Please call us with any questions or concerns. Feel free to forward this to others who might be interested.

Have a great day!

The All Star Team

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