No one thinks it will happen to them until it does. The data tells us there is a 70% chance that an individual who turns 65 will need some type of long-term care and support in their remaining years, yet less than 10% of people have insurance in place to cover the associated expenses.
When a chronic condition, trauma, or illness strikes, you will get the care you need. But, whether that care bankrupts you, or puts the financial burden on your loved ones, depends on the type of coverage you have. The question is, do you want to put your financial future at risk or put that burden on your family?
Insurity Financial Services can give you peace of mind that no matter what happens, you will receive adequate care without shouldering any undue financial woes. IFS advisors help retirees and aging entrepreneurs find affordable short- and long-term care insurance that removes the worry of what if so you can focus on what now.
One of the primary reasons retirees go bankrupt is due to a lack of preparedness for their short- or long-term care needs. The unfortunate truth is that regular insurance doesn’t cover long-term care, and Medicare only covers short nursing home stays or limited amounts of health care. In fact, that’s why New York State’s Department of Financial Services says on their website, “Individuals should not rely on Medicare to meet their long-term care service needs.”
If you don’t have long-term care insurance, there are means to help offset the financial burden - but only after you’ve exhausted most of your retirement savings, or your loved ones have risked theirs.
Don’t make the same mistake as millions of other U.S. adults and retirees who put their faith (and financial wellbeing) in Medicare or standard insurance policies to cover the costs of long-term care. Take matters into your own hands, and give yourself the ultimate peace of mind.
Request your free consultation with an IFS advisor today to learn how an affordable LTC plan can safeguard your wealth in the event that you need additional care later in life.
Every year, millions of people receive care and support from long-term providers and services including home health agencies, nursing homes, hospices, residential care communities, and adult day service centers. The good news is that so many different care providers are available to provide daily support; the bad news is that these services aren’t cheap.
The Administration for Community Living (ACL) provides national average costs for various long-term care services in the United States:
How long will your retirement income last if you need extended care? How much of the financial burden will be shouldered by your loved ones? With long-term care insurance, you can rest assured knowing your assets, and your family’s wealth is not at risk.
LTC insurance is not the only or best option for everyone. There may be other ways and plans to safeguard your financial health when your personal health takes a turn for the worse. The first step to understanding your options is to talk to an IFS advisor.
During your free appointment, an advisor will review your financial and health circumstances to determine if you can self-fund or qualify for state assistance to cover the costs associated with short- or long-term care, or if a dedicated LTC plan makes sense for your needs.
When additional care is needed late in life, Medicare doesn’t go far enough, and your retirement fund might not go far enough either. Don’t risk your health or wealth, and avoid having to ask your loved ones to take on more than they can provide.
There’s no risk, no obligation, and no cost to talk with us about LTC insurance. There’s nothing to lose, and everything to gain. Book your appointment today.