Baby Boomer Generation and Long-Term Care Insurance
The baby boomer generation is now retiring. That covers people born shortly after World War II ended through the middle to late part of the 1960’s. As these aging men and women reach retirement age, a number of other factors begin to increase as well, including health challenges.
Long-term care may very well be necessary for people in their 60’s, 70’s, and 80’s. Most Americans don’t think much about the prospect of long-term care needs, so they often overlook the valuable resources and protection long-term care insurance can provide.
If you are part of the baby boomer generation, now is the time to think about this.
Long-Term Care Insurance Premiums Rancho Penasquitos CA – Baby Boomer Generation and Long-Term Care Insurance
You might be in your 50’s with retirement still looming more than a decade and a half away, so why would you even need to consider long-term care insurance today? In truth, you may not need any type of long-term care for 20 years or more, but every time you wake up, slip out of bed, and take a few steps toward the bathroom or head off to work, there is always a risk of an accident, medical emergency, or other unforeseen circumstance that could leave you struggling to regain mobility.
Yet, most people aren’t going to be planning their lives around these “small” risks, but how many people carry life insurance? If you have children, a spouse, or have a desire to protect other family members in the future in the event you’re no longer here, life insurance is a valuable resource, but you don’t assume you will pass away any time soon, correct?
It’s about planning for the future.
The sooner you begin a long-term care insurance policy, the more affordable it can be based on its monthly premiums. Every policy and provider is different, so it’s important to understand what it will cover, how your health, family history, and other factors can impact the cost of this policy, but almost every single one will be lower as far as the monthly premium is concerned the sooner you begin it.
If you wait until you’re 63 to begin a long-term care insurance policy, it could be two to three times as much for the monthly premium than if you began the policy at 53, for example. That’s not always going to be the case, but it’s an example of the impact your age can have on the cost of these policies.
Not carrying long-term care insurance, though, could be far costlier. Consider the average cost of nursing home care in Alaska at a staggering $300,000+ and it quickly becomes apparent how important this type of insurance can be, especially for the current baby boomer generation.
If you or a loved-one are considering Long-Term Care Insurance Premiums in Rancho Penasquitos 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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