Long Term Care : What does this mean?
Many of people who have already made plans for protecting their family and belongings, saved and planned for retirement are in decision making limbo over whether or not to buy long term care insurance.
If an event occurred that creates a chronic condition, whether physical or mental, that requires part-time to full time assistance to do several daily activities of life: bathing, eating, dressing etc; would those plans cover the cost of the person needed to be hired to come to help you in your home or can those plans pay for a room in an assisted living facility?
To answer that quetion, you should KNOW THE COST OF LONG TERM CARE. Click below to browse Genworth Financial's compiled 2009 data about the cost of care for the different states in the USA and the type of service for the price.
- National Average of Cost of Care Summary
- Map of the USA Average Cost of Care Comparisons between States 2009
HOW IS LONG TERM CARE USUALLY PAID FOR?
Medicare | Medicaid = Limited Choices for the Patient | Lower End
Self Insurance - Pay From Your Savings, Pension or Working Spouses Income = Strain on Family Resources
Long Term Care Insurance - What if I never need it, all those premiums are lost. What if premiums increase?
WE OFFER AN ALTERNATIVE : LifeCare Benefit From John Hancock Life
When you need the care, your policy can be accesse for: Home Care | Adult Day Care | Assisted Living Care | Nursing Home Care. If You never need care, the policy pays to your designated beneficiaries at death. We can design the policy to project cash values for withdrawal, in the event you change your mind altogether after the next 15 years.
Once premium costs are determined when policy issues, the premium wont increase, ever.
If you access the policy for qualififed long term care costs, the payments are not included in your taxable income.
To Learn More, please contact us. We will gladly provide detailed proposals of how the plan can work for you and how you can lock in the premium. Call 800.772.6867 or send us an email info@isantos.com.