Protect your assets in retirement
This one simple step can make your retirement savings go exponentially farther and cover even more for yourself, your spouse, and your family.
LONG-TERM CARE INSURANCE
In home care, assisted living, and stays in skilled nursing facilities are typically not covered by regular insurance and Medicare.Long-term care is extremely expensive and only growing more expensive. Having a long-term care insurance policy not only protects your savings and assets from being depleted by care costs but also gives you more control over the location and type of care you receive.
Long-term care can allow you to retain a level of independence longer. By making this choice for yourself
- You can stay in your home longer with the help of home care and without being forced into a facility prematurely.
- You’ll have more options than if you’re limited to what you can pay out of pocket if you need to spend time in an assisted living or skilled nursing facility.
- Your spouse and kids can just be your family—without having to become your caretakers or face difficult financial decisions about your care.
The best time to apply for long-term care insurance is typically in your 50s or 60s. And if your older than that, the best time to apply is now.
How long-term care Insurance can save your carefully crafted financial plan.
Let’s say your portfolio is worth $1 million today and in 15 years you need nursing home care. Without insurance, you could have to sell off as much as $600,000 in stocks to cover your care. However with long-term care insurance, you could peel off as little as 6/10ths of one percent of your portfolio and protect the other 99.4% for your spouse or children.
With long-term insurance coverage, you can:
- Bypass selling assets
- Avoid large capital gains taxes
- Keep your income secure
- Look after your loved ones
