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Asset Protection through Long Term Care |
What is Long Term Care, and Long Term Care Insurance?
Long term care is: help with your daily activities such as bathing, dressing, eating and getting around when you are not able to do these things yourself. Long term care is NOT medical care, so most health insurance plans will not cover it. This type of care may come in many forms including the following:
- Care in your home
- Community adult day care
- Care in assisted living facilities
- Nursing Home care
Long term care insurance is: A way to help pay for the extended care needed as well as protecting our assets, fostering independence and promoting your quality of life.
- Protection: Long term care insurance can help preserve your assets for you and your loved ones to use as you see fit.
- Independence: Long term care insurance will give you a way to choose what type of care you want to receive and who will provide that care for you.
- Quality of Life: Long term care insurance can ensure the dignified, comfortable quality of life you deserve.
3 Common Myths about Long Term Care
- "Medicare will cover my nursing home costs."
In reality, as of 1993 Medicare only pays for a little over
9% of all nursing home costs, and only the costs that are of
the highest level of care provided. Most people in nursing
homes are at the custodial or intermediate care levels.
- "I will have to be in a nursing home to collect my benefits."
Actually, there are many options by various companies some of which include: community adult day care program, in-home health care, hospice care, and full nursing home care.
- "I'll be paying premiums on something I'll never use."
It's unfortunate that we have "that attitude" about long term care insurance when we don't have it regarding our home owners insurance. We're just glad it's there when we need it and happy we didn't have to use it when we don't. More than of all older Americans eventually will need some form of long term care. Some companies even refund as much as 80% of premiums if the policy is not used.
Could Long Term Care Insurance be right for you? We believe it is certainly good to consider as good financial defense for those clients who have significant assets. Although we do not sell insurance, we can talk with you about it as an independent third party. Sometimes just understanding the related vocabulary helps you to become an educated consumer. That's what we want you to be. Knowing that you have made the right decision
Long Term Care can be for me if...
- I have an estate that I would like to pass on to my heirs
Providing sound financial protection, and peace of mind for you and those you love.
Missouri Property Tax/Pharmaceutical Tax Credit |
