What You Might Miss Out on by Not Choosing Long-Term Care Insurance
Long-Term Care Insurance Cost Del Mar CA
Do you know what tomorrow will bring? What about next month? Perhaps let’s talk about next year or five years from now. Most of us have no idea what’s truly going to happen in the future. We’ve all seen from past experience that the unexpected can be a reality quickly.
That’s one of the prime reasons people carry insurance. Whether it’s health insurance, life insurance, auto insurance, homeowners insurance, renters insurance, or anything else, we carry insurance because we don’t want to be blindsided by unexpected circumstances. We want to be as financially protected as possible.
That’s a great reason to consider long-term care insurance as well.
Long-term care insurance can be extremely beneficial for those who may, at some point in the future, require extra care and support for an extended length of time. More than half of the claims for long-term care insurance end up covering home care support services. One quarter of them pay for nursing home care.
The cost of nursing homes, on average, is about $75,000 per year. For full-time in-home care, it could cost $42,000 per year. If you’re talking about full-time, around-the-clock home care, the cost will only increase as the full-time calculation is based on 40 hours of care per week.
So what happens if you choose not to rely on long-term care insurance?
First, the person who requires care may end up relying on family or friends, especially if their family doesn’t have the financial resources to pay for professional caregivers. That could mean, due to a lack of experience, missed opportunities.
The elderly individual might enjoy certain activities they can no longer do. Their family or friends who are helping out might discourage them from doing these activities. The primary concern of family members is safety. Discouraging physical activities is one way people often consider keeping loved ones safe.
So the basic question now turns to what could somebody be doing if he or she had proper, experienced physical support working with them on a daily basis? What kind of quality of life could they enjoy with a professional and experienced caregiver at their side?
That’s the question you need to ask yourself, not just for you, but for anyone who may benefit from long-term care insurance. The cost may seem like an unnecessary expense, but it could be the most valuable you have in your portfolio for your future.
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
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