Long-Term Care Insurance

As you move closer to your retirement years, long-term care insurance is perhaps the single most important investment you can make. Not only does it cast a protective net over your retirement assets, it offers security and peace of mind by ensuring that your continuing care needs of the future will be met.

How does long-term care insurance work?

When you purchase long-term care insurance, you’re purchasing a daily, weekly, or monthly benefit, to be paid in the event that you need long-term care or home care. There are dozens of types of policies, and they range in price and benefits. Policies are customized to individual needs.

I’m only 50, why should I be thinking about long-term care insurance now?

The younger you are when you purchase your policy, the more affordable it is, and the less likely you are to be excluded because of pre-existing conditions. Also, buying a policy when you’re younger allows you more flexibility when it’s time to choose a long-term care setting, including upscale independent living communities.

Why should I invest in long-term care insurance?

Simply put, it’s a proactive approach to retirement planning. Consider the following:

· Helps protect retirement funds and other assets for a spouse and children.

· People are living longer; the types of illnesses that people died from in the past are now treatable.

In the Greater Cincinnati area, long-term care averages about $200/day.
You can’t rely on Medicare to cover your long-term care expenses.
Traditionally, adult children provide the majority of care for their aging parents; long-term care is a family issue and this coverage provides a plan for the family.
Long-term care insurance is the best way to ensure that you sustain your pre-retirement lifestyle.
Long-term care insurance policies vary widely and many offer inflation protection, flexible payment options and tax advantages.

What are you waiting for?