Do I need LTC coverage?
Over our lifetime most of us will need some type of long term care, at least once, before we leave this Earth. It simply stands to reason with the technology of science and medicine, fitness and nutrition keeping us alive longer and longer. Very few will die suddenly, hopefully after a good book in our '90s.
A quick analogy: With today's tire technology very few will experience a sudden tire failure or blowout. Most of the time a gradual problem surfaces from a valve stem problem or a sharp object from the road's surface that over time will cause loss of air and need repair. With a young tire a repair will provide more years of service. The down time at the service station can be related to our recovery time after a surgery or injury. We too can expect more years of service! It is this down time that has a direct impact on a spouse, our children or friends and family! We actually can be rendered helpless; totally dependant on care. Just like the tire off a car, off the wheel!
It is this reality one must come to grips and realize it's not if we need this, but when! The impact of a sudden unannounced dramatic change of health, to us; and the consequences and impact of our care on others! Long term care is our single, greatest, uninsured risk that we face from this age on! And the one most likely to occur! You may use this coverage 2 or 3 times before the end.
Call now and allow me to do a needs analysis, and pricing for you; while you still may be insurable!
A lot has changed with the State Laws.
Without coverage, if you spend down in a nursing home, the State can force the sale of one's home! If there is a spouse in the house, then a lifetime lien is placed upon one's estate! Homesteading doesn't do any good against a Medicaid Lien; and Trusts can be rendered useless! State Law, under general Policies 515:011 says, "No recovery for long-term care expenses may be made against the Estate of any person who, upon entry to the facility, had long-term care insurance that meets State Regulations!" What would that cost? On average, between $100 to $150 per month in tax deductible premiums!
Why else does this make sense now more than ever?
Well now one policy can cover two people! You can spend all of the money on in-home care! You may never have to go to the manor! Or, burden the family! Or, be wiped out paying $300 per day, $9,000 per month or $108,000 per year! And that's just average costs of care! Revisit this valuable protection before you have a change of health that renders you uninsurable!