Personal financial planning is more than just stocks and bonds.
Long-term Health Care Insurance is Your Security Blanket.
Long Term Health Care Insurance provides security in case of a prolonged recovery or nursing home stay and can help protect your assets. Frank McKinley can help demystify the process of determining if you need long term care health insurance with the selection of a program that’s right for you.
Frank McKinley can assist with Long-Term Care planning Long-Term Health Care Insurance is a security blanket for your future. Providing aid in case of a prolonged assisted living center or nursing home stay, long-term care insurance is a good choice for anyone at any age. You can purchase different amounts of daily or monthly benefits for various time periods ranging from two years to lifetime. You also have a choice of elimination periods; the amount of time you will pay for care before the long-term care insurance policy takes effect. Elimination periods will typically range from 30 to 180 days depending on your long-term health insurance policy.
All these variables affect your premium, or annual price, of the long-term care insurance policy. Frank McKinley understands the personal nature of a decision to purchase long-term care insurance and can help to construct an appropriate policy to meet your individual needs. There are guidelines to aid in the determination of your eligibility and a professional like Frank McKinley can help review your needs and current financial situation.
Today, long-term care insurance is becoming much more popular with people in their 40s and 50s, as it is much more affordable and far less likely to be denied for health reasons. As we age, the premiums increase and the likelihood of disqualifying illness also rises. There are some policies that allow for a ‘shared’ benefit, which may be used by either spouse, and some are now ‘packaged’ with disability plans that can change to long-term care insurance once a specific age is reached.
What are your specific long-term care health insurance needs?
Does your family have a history of needing long-term care? What other means of care may be available to you? Does your net worth allow you to self-insure, or would your retirement asset base be better preserved with an intelligently priced long-term care insurance policy?