Enjoy the Freedom of Choice Before an LTC Crisis Arises
Once a crisis happens and you need long-term care due to an illness, accident, or the impact of aging you and your family have limited options. Planning in advance gives you the freedom of choice.
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.
Mark Goldberg
Contributor since July 23rd, 2020
Editor's Note
Look for your state on the LTC NEWS cost of care calculator. You can find the current and future cost of long-term care services in your area.
If you think you will move after you retire, be sure you review the costs of care anywhere in the country. You will also find available tax incentives and the availability of Long-Term Care Partnership policies that provide additional dollar-for-dollar asset protection.
Seek professional help when shopping for the best policy. Find a trusted and experienced Long-Term Care specialist.
Don't wait. It is your good health today that allows you to plan. Premiums can vary over 100% between insurance companies for the same benefits. However, underwriting criteria is different with every company. This is where a specialist can help match you with the best coverage at the best value.
