The Economic Impact of COVID-19 and How Long-Term Care Insurance Can Help

By Steve Elliott | August 3, 2020 | Comments Off on The Economic Impact of COVID-19 and How Long-Term Care Insurance Can Help

How much do you know about the economic and financial impact of COVID-19? Most people have seen the numbers. Tens of millions of people filing for unemployment. Thousands upon thousands, even tens and hundreds of thousands of businesses directly impacted.

Long-Term Care Insurance Quote Rancho Penasquitos CA - The Economic Impact of COVID-19 and How Long-Term Care Insurance Can Help

Long-Term Care Insurance Quote Rancho Penasquitos CA – The Economic Impact of COVID-19 and How Long-Term Care Insurance Can Help

This is only the beginning. What may happen in the coming months and years cannot be accurately predicted. We can have some idea, but there’s a lot of behind the scenes factors that will be impacted for months and years to come.

For example, the nation is now $24 trillion in debt and that number is only climbing higher and higher. Many states are facing extreme deficits and grappling with huge debts themselves. These aren’t necessarily the direct result of coronavirus but poor management for years. Now, COVID-19 is adding even more pressure to their local economies.

This can affect public and private pensions, which are tremendously underfunded. They can have an impact on Social Security within a few short years.

All this to say it’s time for people to take their financial future more seriously. One way to help protect it, at least to some degree, is through long-term care insurance.

Why worry about long-term care costs when you’re struggling now?

If you’re in your 30’s or 40’s and are financially struggling as it is, then long-term care is not something you should really be considering. If you have significant savings and investments, though, then it should be something to talk about.

No, the primary target age for somebody to seriously consider long-term care insurance is in their early to mid 50’s. This is the “sweet spot” for this type of insurance. That’s because retirement is really just around the corner and if you’ve been diligent to save for it, you have significant investments and savings to protect.

You have no idea what the future will bring.

Even if you have recently been given a clean bill of health at 55, you could have a heart attack or stroke tomorrow. You could get in your car feeling great after a workout and get in an accident.

You could be distracted for just a slight moment rushing downstairs and your life can change in a flash.

Requiring any type of long-term care is expensive. It can and has financially devastated families from all walks of life. You don’t want that to happen. You don’t deserve it.

That’s why now is the time to look at long-term care insurance and get a quote. The financial and economic future of this country is uncertain, so it’s incumbent upon you to protect yourself and your family for the future.

If you or a loved-one are considering Long-Term Care Insurance Quote 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.

Steve Elliott
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