Don and Mary were high school sweethearts. Married at 19, having raised five children, they worked hard, were frugal and saved, and planned for their retirement years. When Don was 65, he finally stepped away from work. Mary followed suit one year later. They had been excited about the prospect of traveling and, having been diligent about investing and saving through those years of hard work, they didn’t see any issue keeping them from enjoying their Golden Years.
However, they refused to consider long-term care insurance.
According to Don, this type of insurance was, “A complete waste of time and money.” With life insurance, as he would say, eventually everyone dies, so the policy will pay out. The same cannot be said for long-term care insurance.
He also said, “What happens when I reach my 80’s and never need any type of long-term care?” He assumed he and Mary would be completely healthy, safe, and in good condition without needing any type of assistance until the very end. “By the time I would need any type of nursing home care or whatever,” he mentioned a different time the topic came up, “It won’t matter.”
At 68, Don began having difficulty with his memory.
He was forgetting things more quickly, getting frustrated, and exhibiting other early signs of dementia. When he was diagnosed, it was devastating. They had no idea what to expect. By the time he was 72, caring for him was overwhelming and Mary needed help. Their children were spread across the country and their friends were unable to offer any real, lasting support.
The best option was memory care assisted living, and bat that time Mary realized just how much this was going to cost. It was going to devastate them financially. They could afford it, but Mary would soon be facing the prospect of having to work once again, at her age.
She looked back on those conversations about long-term care insurance and wondered how different things would have turned out if they it simply started a policy. Don and Mary have a story that is shared far too many times all across the country. People either have no idea there is such a thing as long-term care insurance or they assume it’s not necessary.
In most cases, every family will face the prospect of requiring long-term care for somebody they love. This type of insurance policy can protect savings, retirement investments, dignity, and possibly even life in the future.
If you or a loved-one are considering Long-Term Care Insurance 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