Seek Specialist to Help with Long-Term Care Insurance Plan
Aging happens, and most people today are very aware of the need to plan for longevity and its impact on savings and lifestyle. Interest in Long-Term Care Insurance has increased as American families see first-hand the impact aging and health have on a family's savings and lifestyle.
Long-Term Care Insurance is already helping American families pay for care. In 2020 the major insurance companies spent over $12.3 Billion in long-term health care benefits. Much of that money is helping people stay in their homes.
Long-Term Care Insurance can provide the resources to safeguard income and assets while reducing the stress and anxiety placed on the family. While many people turn to the internet or a local insurance agent or financial advisor, many people ask who they should turn to find accurate information so they can make a good decision.
LTC Insurance Specialist Can Help You Plan
The American Association for Long-Term Care Insurance (AALTCI) is a national consumer education and advocacy group. They recommend consumers find an experienced, qualified specialist who represents multiple major companies.
Many general insurance agents and financial advisors lack the proper understanding of policy design, underwriting, partnership requirements, and claims. Since every company has its own features and benefits and underwriting niches, it is best to find a person who can navigate the complexities and make them simple.
Insurance premiums are regulated, but premiums can vary dramatically from company to company for the same coverage. In fact, premiums vary over 100% between insurance companies. If you live in a Long-Term Care Partnership state, additional policy design requirements exist that a specialist would understand.
LTC Specialists Will Help You Plan and Prepare
Most likely, the most qualified specialist will not even be in your state. Most top specialists will help consumers by using the internet and the telephone. You can start your research and learn about your options and shop all the companies safely within your home without your need to ever go to an office.
When you find a specialist, be sure they ask you very detailed questions about your health, family history, and financial situation. The specialist will need to understand your future (or current) retirement plans to make the proper recommendations and determine suitability.
Most insurance companies use electronic applications to simplify the application process and reduce paper waste. The process is easy and safe.
If the insurance agent or advisor doesn't spend considerable time discussing these areas listed above, you should be suspicious. Experts say an insurance agent or financial advisor cannot provide accurate quotes or provide professional recommendations without getting this information before generating the quotes.
Experts say underwriting rules are very specific but differ from company to company. Plus, you might qualify for discounts with one company and not another. Options like shared spousal benefits might give your plan flexibility.
LTC Insurance is Affordable, but Premiums Vary Over 100%
Premiums can vary over 100% for the same benefits. A Long-Term Care Insurance specialist will match your age, health, family history, and other factors in generating quotes and recommendations. Armed with this information, the specialist can save you money.
Start your research by finding the current and future cost of care services where you live. The LTC NEWS Cost of Care Calculator is a great tool that allows you to see the financial impact long-term health care will have on your assets and income. You will also see any important state-specific information like available tax incentives available in your state, plus the availability of partnership plans which provide additional dollar-for-dollar asset protection.
You can find a trusted and experienced Long-Term Care Insurance specialist by clicking here.
Maintain Control Over Your Life - Avoid Dependency
As you are thinking about planning for the financial costs and burdens of aging, understand the reality of getting older. You will face many changes in the coming decades that will affect your health, body, and mind. The consequences can be enormous.
The fact is long-term care creates dependency. Most people don't want to be dependent on anyone. You want control and independence. Plus, most people don't want to place the stress and burden of caregiving on their family members. Affordable Long-Term Care Insurance keeps you in control, protecting your savings and easing this burden otherwise placed on those you love.
Know the facts. Longevity means a greater risk of needing extended care.
As we get older, many of us will require help with routine activities of daily living or even supervision due to cognitive decline. Caregiving is hard on loved ones, and paid professional care will drain your hard-earned savings and adversely impact your income and lifestyle.
Affordable Long-Term Care Insurance is a solution that will give you and your family peace of mind. But don't delay. Act before you retire, ideally in your 40s or 50s, when you can enjoy low premiums and even preferred health discounts.