Essentials for a Comfortable Retirement

 

Long Term Care is an asset protection vehicle used in retirement planning for individuals who don't want the high cost of future medical care to wipe out their assets. Long Term Care costs are the number one reason why people age 50 and up file for bankruptcy. 70% of people over 65 will need some type of Long Term Care in the future and most will not be prepared.

Long Term Care is an essential part of your retirement planning. Long term care (LTC) insurance primarily pays for supervision or assistance with everyday tasks (such as bathing or dressing) whether at home, in a community program, in an assisted living facility (ALF) or in a nursing home. Some LTC policies only pay benefits for care in institutional settings, such as nursing homes and assisted living facilities, while others only pay for home and community-based care, such as adult day care (ADC) facilities. Comprehensive policies include benefits for all of the places listed above.People often need LTC services after an illness or injury, such as a stroke or a broken hip, or because of a cognitive disorder such as Alzheimer's disease.

Many people live at home with help from family members or paid caregivers and go to a nursing home only as a last resort. Others go directly to a nursing home from a hospital because of the severity of their condition.

Assisted living facilities provide LTC services and often act as a bridge when a person can no longer live at home but doesn't need to be in a nursing home.Planning for LTC is challenging because there are various ways to pay for this type of care and various places where you can receive it. In addition, you have no way of knowing whether you will need LTC or how long you will use it. Some people will never need LTC, some will only need it for a short period of time and others will require care for many years.

Some people will be able to live at home with small amounts of assistance while others will be required to live in a nursing home. Planning to pay for LTC requires a careful review of all your retirement plans, income, expenses, actual and expected assets and liabilities. Expert advice from a trusted financial advisor is necessary when planning for these types of tough decisions.

What are the Benefits of
Long Term Care? 

There are many reasons to own a Long Term Care Policy but the main reason to purchase Long Term Care is the rising cost of care. Every single year the cost of Care rises by 5%. So if you have $100K today set aside for an emergency, that same $100K in 10 years will not cover your medical needs. 

Long Term Care

  • Allows your family to not worry about you

  • Your family members do not have to quit their jobs to care for you

  • You have a certified nurse to take care of you in your own home 

  • You wont have to Self-Insure

  • You have a solid Financial Plan that is bulletproof! 

  • You can leave your assets as a legacy instead of using them up on medical expenses or simply enjoy them.

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Contact

Pacific United Financial Group,LLC

 

11622 El Camino Real, Suite 100

San Diego, CA 92130

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Toll Free: 1(833) 722-5433

Direct: 1(619) 316-7300

Fax: 1(833) 722-5433

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