The New Year is just about upon us and that’s a time when many people make resolutions. These resolutions are intended to improve their life, future, activity, relationships, and so forth. Those who may be seeking to improve their financial standing or future would do well to consider long-term care insurance.
Why consider the impact long-term care might have?
A family of four, for example, will likely include two parents and two children. Those parents might be in their 40’s, working, saving, and doing everything properly to prepare for their future. They might be investing in a 401(k) or other retirement portfolio. They may be saving for college.
They are fit, healthy, and energetic. They play sports, exercise, watch what they eat, and get regular physicals from their doctor. They have been given a clean bill of health and basically have a family history of strong genetics. In other words, they have nothing to worry about as far as health issues.
In fact, even all of their parents are still alive, healthy, and active in their early 70’s. There’s absolutely no indication they would need any type of long-term care, either in the immediate or distant future. So why bother contemplating long-term care insurance now?
Tomorrow is unknown.
No one can predict the future. Even meteorologists struggle to accurately predict weather patterns, though they have improved technology, they are often caught surprised by a shift in the pattern, the severity of the storms, or how it might actually impact their viewing audience. Since even meteorologists are often wrong, even at the last minute, what does that say about people who assume just because they are in good health right now they won’t have a problem tomorrow, next month, next year, or even in 10 years?
A family that is saving for the future might find themselves needing long-term care far before they would’ve ever dreamed possible. Long-term care costs are unpredictable, but the one thing they are consistent on … is they are increasing. That’s about the only thing anyone can count on: higher costs.
The unpredictability involves a number of factors, including the baby boomer generation that is now retiring, thus placing more demands on home care and other support services. Those increased demands will lead to increased costs.
So, what about for that fortysomething couple looking to the future?
By the time they retire, the demand spike for home care and other long-term support services will be over, but the elevated costs will remain. Long-term care insurance can help stave off financial ruin for those families planning for the future.
If you or a loved-one are considering Long-Term Care Insurance in Carlsbad CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
I work with all the major insurance companies and my objective is to help my clients determine if long term care protection makes sense for them and if so, to help them shop the market to find the best company at the best rate
I specialize in Traditional Long Term Care Insurance as well as Hybrid Long Term Care Plans which are either a combination of Life Insurance and Long Term Care or an Annuity Plan with Long Term Care
I’ve been specializing exclusively in Long-Term Care Insurance Planning for over 21 years.
Steve was recognized as a 2003 Long Term Care Expert of the Year at The National Long Term Care Producers Summit
2006 was awarded Senior Market Advisor of the Year Finalist by Senior Market Advisor Magazine
National Speaker for Numerous Industry Meetings
Awarded Nations Top 10 Agent 8 times by the American Association of Long Term Care Insurance
Author of numerous published articles on long term care planning