Not many people think they will ever require long-term care. When we’re young we often think of ourselves as being almost immortal. That’s certainly not the case, and we come to an understanding about our own mortality more acutely as we get older. However, even though we all know what’s going to happen in the end, few of us actually think we’ll require assisted living, nursing home care, or in home care support services. As a result, very few of us actually think about long term care insurance.
For those who have heard about long-term care insurance and are thinking about it for themselves and their family, they still might not be sure if this is something to consider.
Here are a few reasons why you very well might need long-term care insurance.
1. You’re between the age of 40 and 84.
If you find yourself anywhere in that age range, it’s time to consider long-term care insurance. The older you are, the more costly the policy may be, so it’s best to begin carrying long-term care insurance as early as possible in your life.
Some people in their 40’s and 50’s can’t even imagine having a need for long-term care, but a heart attack, stroke, or some other medical emergency can strike at any time, and so can Alzheimer’s and other forms of dementia. People are also injured in accidents every day all across the country. If that happened to you, how would your family pay for long-term care?
2. You have significant assets you want to protect.
Maybe it’s your house. Perhaps it’s a 401(k) retirement plan. Maybe you have a lot of money in savings. Whatever the case may be, if you have assets and ultimately require some type of long-term care, those assets would likely be used to pay for it unless or until you become indigent.
If you have assets you want to protect, you need to make sure you have adequate insurance coverage to do so.
3. You can afford the premiums.
If you can afford the premiums, there’s no reason not to carry long-term care insurance. Some people are tight on money, but they can certainly get long-term care insurance, but that would mean sacrificing dining out once a month.
What’s more important? Having a meal you’ll forget before long or making sure you and your family are properly protected in the future?
4. You are insurable and in good health.
If you’re in good health that’s a good sign. That means your policy premiums will probably be lower than for somebody who has certain health issues that puts them in a higher risk pool.
If you or a loved-one are considering Long-Term Care Insurance Premiums 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
Latest posts by Steve Elliott (see all)
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- Long-Term Care Insurance Is a Wise Decision If You Care About Your Family and Future - April 8, 2019