As More People Retire, Costs for Long-Term Care Will Rise
The Baby Boomer generation is now retiring. These are men and women who were born sometime after World War II and through the mid to late 1960’s. As these men and women retire, and as people are living longer, it is placing increased pressure on not just the health care industry as a whole, but also home care services.
Long-Term Care Insurance Encinitas CA – As More People Retire, Costs for Long-Term Care Will Rise
The longer people live, the greater the chances long-term care will be necessary.
As people live through their 80’s, 90’s, and beyond, the risk of health related issues, physical limitations, and other challenges will increase. That means the older a person is, the more likely he or she is going to lean on family or friends for some type of support, either to assist them with certain tasks around the house, to go shopping, or even basic activities of daily living.
Long-term care can involve a series of home care aides, visiting nurses, and much more. When one calculates in the cost of home care support for just one week, or some other senior care option, which can include nursing home care, assisted living, and more, it quickly becomes apparent that this can deplete savings, retirement investments, and much more relatively quickly.
That’s why long-term care insurance is such a good idea.
Currently, the cost of long-term care can be catastrophic for many families. Medicare and Medicaid will not provide financial support to those individuals until their personal assets are almost completely depleted. If a person cannot afford any type of long-term care, such as for several years, they should certainly consider long-term care insurance.
What if long-term care is never needed?
That’s like saying, ‘what if a person is never involved in an automobile accident or other mishap?’ While the law requires everyone with a car on the road to carry insurance, that doesn’t mean most people would drop their insurance if it was no longer legally required. They would most likely continue carrying it because they understand how important it is to protect against the potential of accidents and other mishaps.
Long-term care insurance can save a person financially from ruin in the event long-term care is needed, and if it’s never required, that might mean a greater opportunity at a higher quality of life. That can certainly be a life fully blessed.
If you or a loved-one are considering Long-Term Care Insurance in Encinitas 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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