Yes, Long-Term Care Insurance SHOULD Be Part of a Well-Rounded Portfolio
You’re working hard. You spend 50, 60, and maybe even more hours every week on your job. You scrimp and save and do everything you can to make sure you have something for retirement. That’s wonderful, but while you’re building your savings and portfolio, if you don’t add long-term care insurance to the mix, it might end up being an incredibly costly mistake.
Long-Term Care Insurance Premiums San Diego CA – Yes, Long-Term Care Insurance SHOULD Be Part of a Well-Rounded Portfolio
Why consider long-term care insurance?
For one thing, the cost of long-term care continues to increase. In fact, it’s becoming such that if a person requires care in a nursing home for a year, that could cost upwards of $85,000 or more, on average, per year (and in some regions of the country, that number well exceeds $100,000). That amount is all many people have, if that, for their entire retirement savings.
Long-term care can and has completely financially wiped out entire families, and it is devastating. This is one of the primary reasons long-term care insurance should be part of a well-rounded retirement portfolio.
When should you begin this type of policy?
As early as possible. Some people hear that it’s not really necessary to begin a long-term care insurance policy until you begin approaching 60, but the older you are when you do begin one of these policy, the more expensive the monthly premiums are going to be. In many ways, it’s similar to life insurance in that regard.
The older you are, the greater the risk will be of requiring some type of long-term care. With greater risk comes greater liability. As such, these policy premiums become more expensive the older you are.
What people should really be thinking about and considering a policy is when they begin saving and planning for retirement. Most people will start saving for retirement in their 3’0s or, at the very latest, their 40’s. Of course, there are circumstances that make it difficult to begin properly planning and saving for retirement until a person is in their 50’s, but at some point during that fifth decade of life, if you’re already saving for retirement, building your 401(k), investing in stocks, bonds, CDs, or something else, you should also be carrying long-term care insurance.
Accidents, health emergencies, and other situations can arise at almost any time. Long-term care insurance can protect you, your family, and your savings so you can still retire and live comfortably in those coming years.
If you or a loved-one are considering Long-Term Care Insurance Premiums in San Diego 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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