Long-term Care
70% of people over 65 will need
long-term care services at some point.
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Long Term Care
As people live longer and healthcare expenses continue to rise, the need for long-term care planning becomes more of a “when” than a “if” situation.
By having a long-term care strategy in place, you’ll be better prepared for the tough financial, emotional and administrative decisions you and your loved ones may need to make.
Total life expectancy has increased by 9 years and is projected to increase another 7 years.
As longevity continues to rise, 98% of surveyed consumers say that long-term care planning makes them feel more confident about their financial future.
How Long-Term Care Insurance Works
Select a Daily Benefit that Fits your Needs.
You Choose the Length of Coverage
You Manage your Pool of Benefits
Can vary from $50 to $400 a day in benefit.
The beauty is you do not have to take consecutive daily allowances.
Your pool of benefits is managed by you.
The average length of coverage for the 65% of people that need LTC is 2-years.
Together we will analyse your situation and find what works best for you.
For example, 2-years of coverage at $200 per day would create a pool of $146,000.
You conrol allocation across the 4 LTC services as needed.
We would budget for the cost so you have piece of mind throughout retirement.
The 3 Options for Covering LTC Costs
1
Self Insure
Consequence is tapping into your assets often including your home at a rate of $50,000 - $75,000 per year.
2
Medicaid
You would have to relinquish most of your assets to the state. The state may dictate:
-
where you would live
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who cares for you
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how you are taken care of
3
Transfer Risk to an Insurance Company
Pay a monthly premium you can budget for and the life you deserve in retirement.
Applying is just the start
The good news is, LRP provides free, one-on-one confidential reviews of your specific situation and comparisons across all insurers and policies to help guide you to the most suitable long-term care options for your family's needs.
The truth about long-Term Care is you it is not purchased because you have the Money ... It is purchase because your health qualify for it.
Far to often, consumers and agents submit applications that are denied. All insurance companies have their own individual underwriting guidelines, meaning one company may approve someone with type-2 diabetes, whereas another might not.
This is where a licensed insurance professional becomes crucial to your success of being insured. LRP works with the top experts in each area of retirement so we fit your needs with insurers who have an edge over the industry in those areas.