With Long-Term Care Insurance, You Don’t Have to Be Unprepared for the Unexpected

By Steve Elliott | August 31, 2020 | Comments Off on With Long-Term Care Insurance, You Don’t Have to Be Unprepared for the Unexpected

It’s a telling sign that with the majority of full-time working adults, many are struggling to get from one paycheck to the next. With just about 50 percent being unable to afford a $400 emergency expense, this country is heading in the wrong direction financially. We are not prepared for the unexpected. That includes for the potential cost of long-term care.

Long-term care insurance is a valuable asset that can help protect savings, assets, and retirement funds. Unfortunately, since most people are simply existing, living paycheck to paycheck, according to CNBC, it means the majority of these people are probably not thinking reasonably or logically about the distant future.

What is the “distant future?”

Long-Term Care Insurance Del Mar CA - With Long-Term Care Insurance, You Don’t Have to Be Unprepared for the Unexpected

Long-Term Care Insurance Del Mar CA – With Long-Term Care Insurance, You Don’t Have to Be Unprepared for the Unexpected

This generally refers to a time when people typically retire. The official retirement age, as far as Social Security is concerned, has moved from 65 to 67, but that will likely increase again soon. The viability of Social Security is in doubt for millions of full-time working Americans right now.

For those men and women, if they don’t invest properly, save as they should, their Golden Years could be spent working just to survive. Forget about traveling, relaxing, and enjoying life as one should.

On top of those concerns, few people are really thinking about the impact a serious health issue or injuries could have on their life, not just in the distant future, but tomorrow.

What would happen if you were involved in an accident tomorrow?

Have you ever thought about that? With more people distracted behind the wheel, average speeds increasing in most states, the risk of accidents is dramatically increasing. While cars have become much safer with side curtain airbags and other technologies, what if you were involved in a slip and fall accident while rushing down the stairs?

What if you broke your hip, shattered your leg, and it was going to take nine months or longer for you to heal, go through physical therapy, and get back to doing things on your own?

Who would help you? Many people would turn to family and friends, but is that the best option? What if you don’t have friends or family able to help as needed? You would likely turn to some form of long-term care.

Could you afford that? In Alaska, for example, nursing home care is averaging over $300,000 per year. In most of the rest of the country the cost is quickly approaching $85,000 per year. Even full-time home care is over $45,000 annually.

Most Americans would not be able to afford this, which is why long-term care insurance is such an important topic to consider now.

If you or a loved-one are considering Long-Term Care Insurance in Del Mar CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.

Steve Elliott
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