Insurance is not a guarantee. It is protection. One of the main reasons people avoid certain types of insurance is because they never think anything bad is going to happen to them. While having automobile insurance is a requirement of law in every state for those who have a registered vehicle on the roads, other types of insurance can easily be passed over.
Life insurance is one of them. Even though every single one of us will die, not many people carry life insurance because they assume it’s not going to happen to them until they are well in their 60’s, 70’s, or 80’s, so what’s the point? People who want to be responsible for their children, spouse, and other family will certainly consider a life insurance policy, but whether they can afford it at the time or not is a different argument altogether.
When it comes to long-term care insurance, not many people are even aware that this is available. Even fewer think it’s necessary, especially as they move through their 40’s, 50’s, and into their 60’s. After all, retirement is still a long way off; why would they even have to bother thinking about the possibility of long-term care until they are in their late 70’s, 80’s, or even approaching 90?
Consider how much long-term care costs.
The average cost of nursing home care in the United States exceeds $85,000 annually. In some states, like Alaska, the cost is well over $300,000 per year. There are different types of long-term care, of course, but just imagine trying to pay for that out-of-pocket.
Most people couldn’t even consider it, much less to do it. It’s also important to realize in order to be eligible for Medicaid coverage for various types of long-term care, a senior would have to completely deplete their assets and savings first. That means selling their home, using up their savings, and all other assets before the federal government will even consider stepping in and providing coverage.
It’s true you may never need long-term care.
That would be a wonderful thing. That would essentially mean you live a long, full, and physically capable life right to the end. But, what if you do?
That’s where long-term care insurance comes into play. It is protecting against the possibility of something terrible happening, something requiring extensive and ongoing long-term care. If you want to protect yourself, your assets, and your savings during your retirement years, long-term care insurance can help you do just that.
If you or a loved-one are considering Long-Term Care Insurance Cost in Rancho Penasquitos 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