Long Term Care Insurance

Often Critical For Asset Protection

Long Term Care Insurance protects you, provides you independence in selecting needed care, allows you not to be a burden to children, or other relatives and protects your retirement assets from the devastating costs of care needs.   Home Care is especially desired but can often be prohibitively expensive.

WHAT IS LONG-TERM CARE? (LTC)

LTC covers required professional assistance with 1) daily activities such as bathing, eating dressing 2) Skilled nursing care or rehabilitation either in a nursing, adult care facility or your home. 3) Cognitive impairment care such as for Alzheimer’s providing quality long-term care without the burden being on your family. It can also provide homemaker services to help with cooking and other tasks you may not be able to perform.

 
Who Pays For Long Term Care?

You Pay for Most!

Currently about 50% of all Americans will need long-term care during their life.  As we live longer the need will increase and costs are rapidly escalating.

The benefits under Medicare or health insurance polices are very limited and do not protect you from financial ruin.

Medicaid is a welfare program after you have spent down most all of your life savings.  You can’t just transfer it to relatives like you could many years ago.

YOU are the prime source for long-term care costs.  You can either risk your family assets or be responsible to insure for a likely need and not risk your family’s retirement assets.

Costs Are High According to MetLife Mature Market Institute study in 2000, the average nursing home stay in Phoenix costs $152/day.  The average nursing home stay is 2.5 years or $138,700 in Phoenix.  Of course for the best choice of options the costs may be higher.  And home care options can exceed nursing home costs if extensive care is required.

Costs Are Rapidly Rising.  Long-term care costs have been rising faster than the consumer price index for many years.  Yet in Phoenix we keep hearing of more nursing homes going bankrupt or complaints about poor quality of care.

The best nursing homes, adult care facilities and health care providers are only affordable by those with substantial financial means – or the insurance protection to provide independence of choice.

HOWEVER there are huge differences between different LTC policies.  Some are expensive yet provide minimal protection. A "tax qualified" policy has questionable, if any real tax benefits yet is harder to collect from due to more stringent requirements in order to collect benefits. As independent advisors, not affiliated with any particular insurance company we recommend the best coverage based on YOUR needs.

We independently evaluate many options for insurance just like we do for investment products.  Give us a call to arrange a no-obligation meeting to discuss your situation and the various options available.

We Take Your Financial Future As Seriously as YOU SHOULD !   
Large enough to serve yet small enough to care
Committed to Success Through Client Satisfaction

Securities are offered through Multi-Financial Securities Corp, Member FINRA/SIPC. Investment advice is offered through Hutchison Investment Advisors, Inc, a Registered Investment Advisor. Multi-Financial Securities Corp. is not an affiliated company of Hutchison Investment Advisors, Inc., or Hutchison Financial Advisors.

CERTIFIED FINANCIAL PLANNER^TM and are certification marks owned by the Certified Financial Planning Board of Standards, Inc. These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.

Last updated 5/7/2008