When you need Long Term Care, who will be your caregiver?
Children... at what cost to them?
Facility (Low quality subsidized care)... at what cost to your quality of life?
Facility (Private quality facility care)... at what cost to you financially?
Over time our needs change. As we approach retirement, our focus shifts from protecting our income to protecting our assets.
Assume a 10 year stay in a Long Term Care Facility that costs $3,000/month. That’s $36,000/year over 10 years – or $360,000 – after tax – a significant drain on estate assets, retirement funds and heirs’ inheritances.
Rather than self-insuring for these expenses, you can insure for Long Term Care benefits to provide full-time nursing care at home or lifetime facility care.
