Do you have any clue how much long-term care costs these days? Most people don’t. They may have a general idea that nursing home care is the most expensive option, but if this topic ever comes up in casual conversation, it usually immediately leads to comments like, “That’s one thing I never want to deal with.”
It’s certainly reasonable for people to understand nursing homes are not the best places to spend any length of time, especially during those Golden Years. Unfortunately, far too many seniors reach a point in their life when they need long-term care and can’t afford it. They may not be able to get help from family or friends, so what option do they have?
Since most states cover nursing home care for seniors who are considered indigent or unable to pay for long-term care themselves (once all financial resources have been exhausted) that’s where many seniors who never thought they would find themselves in a nursing home end up.
Now is the time to consider the cost of long-term care.
If you’re in your 40’s or 50’s, now is the perfect time to begin contemplating long-term care insurance. As the baby boomer generation is retiring, the elderly population in the United States (as a demographic) will skyrocket. That means there will be more seniors as a part of the population than in any other time in history.
That also means there will be more elderly men and women placing increased demands on the health care system, including home care support. Basic economics teaches us that increased demand also increases the price for those very services.
So, even as the cost of some long-term care is unaffordable for millions of people, it is only going to get tougher. Too many people have worked their entire adult lives, invested in their retirement funds, assumed they did everything right, and then find that within a few short years they’re completely broke because of the cost of long-term care.
With long-term care insurance, this could potentially be avoided.
A quality long-term care insurance policy should cover numerous options for long-term care. A good policy should also cover the costs of that care for at least a couple of years, if not more. No one can foresee the future and for those who discount the possibility they would ever need long-term care, it’s akin to rolling the dice and hoping for the best. That is not sound financial planning.
If you or a loved-one are considering Long-Term Care Insurance Cost in Del Mar 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