One of the great lessons from this shared COVID-19 experience has been the importance of having a plan if you ever need long-term care.
We have read the headlines of how many deaths have occurred in a long-term care facility, whether they are assisted living, nursing home, or memory care center.
The TV, Radio, Newspapers, Magazines, and Internet go on repeatedly, warning the public of this risk.
As a President of an insurance agency, we have seen a massive increase of responders from those age 70 and older because they are afraid. The increase is in addition to the large amount of people in their 40s and 50s who understand the need to plan before their health or age limit their ability to do so.
What is Your Solution?
That is why putting a plan in place has never been more critical. When you have a policy, it helps you tackle the cost of care without changing you or your family's lifestyle; you remain in control if this happens to you.
You choose where you get your care, who will provide your care, how often you receive care, and so much more. You maintain control and independence and not be forced to rely on your family to make those decisions on your behalf.
When this pandemic began, I had nine policyholders on claim receiving benefits in a long-term care facility. Today they are all receiving their care at home (or a loved one's home) because they had the foresight to have a plan to help them pay for that care.
These policyholders did not become victims of the system. When you have a plan, you will get the red-carpet treatment offered to those who can afford to private pay for their care. Facilities will prefer you over those who must spend down their life savings.
Seize the moment - work with an LTC Solution Specialist to put a plan in place today.
About the Author
Mark Goldberg is President of FPS Insurance, a national insurance agency. Recognized as an Long-Term Care Solutions Expert and Safe Money strategist, he specializes in helping people protect themselves from what could be the greatest risk to their life savings as they age.
Contributor since July 23rd, 2020
The problem of long-term care is both a cash flow issue and a family issue. Preparing your family and finances for the financial costs and burdens associated with long-term health care is key to enjoying a successful future retirement.
There are many resources available on LTC NEWS that help educate you about the options available to you for safeguard savings and income and reduce the stress on your loved ones. As you prepare for your future retirement, better consider the physical, emotional, and financial burdens that get placed on you and your family.
Find all the resources on LTC NEWS by clicking here.
One of the most used resources is the Cost of Care Calculator. You will find both the current and future cost of extended care services where you live. This is an outstanding planning tool and useful if you are looking for care for a parent or loved one. Access the calculator direct by clicking here.
Find a Trusted and Qualified LTC Specialist
Be sure to seek the right type of professional help. Premiums can vary by over 100% between insurance companies, so a skilled and trusted professional can help you navigate the many companies and options.
A qualified Long-Term Care Insurance specialist will help you obtain the best coverage at the best value. Discover your trusted pro by clicking here.
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