nada believes that although finances are always a concern, if you’ve done a good job planning for retirement, your finances are secure. Income may come from a range of sources, including pensions, private savings and investments. Your day-to-day living expenses are lower than during your working life, although health-related spending may increase. Hopefully, your focus is on enjoying travel, hobbies and spending time with family and friends.
The costs of raising a family are in the past. However, at this point you face new financial concerns. How do you:
- Maximize your quality of life?
- Make sure your financial future is safe
- Make sure the value of your estate passes to your heirs?
- Protect your family’s financial well-being?
“I know a need for care is coming
and I want protection before it’s too late”
As each of us grows older, the need for long-term care increases. It’s important to understand how it can affect your retirement plans.
The cost of Long-Term Care varies across the nation. However, on average, one year in a nursing home can cost more than $75,000 today, according to the Genworth Cost of Care Survey. With costs increasing at about 5% annually, the price tag could skyrocket to between $185,000 to $300,000 per year within the next 20 or 30 years (learn more about the cost of care).
While it takes most people decades to build the financial security they need to retire comfortably, it’s easy to deplete the savings you are counting on for retirement in just a few years of needing long-term care.
Health insurance or Medicare doesn’t cover long-term care expenses. The answer is long-term care insurance. It protects your assets and prevents disrupting the lives of you loved ones.
Have you thought about the impact of Long-Term Care on your life?
For Me - Medicare does cover some long-term care costs, but does not cover extended long-term care. Would you have to use your retirement savings to pay for long-term care?
For My Spouse - Would you be able to provide care for your spouse, or would you have to use retirement income to cover these costs?
For My Children - Depending on where they live, it might not be possible for them to act as your caregiver. And, would you want to ask them for financial help to cover long-term care costs?
Why you need to review Long-Term Care insurance NOW
nada believes that long-term care insurance is an essential component of your financial plan. Therefore, nada has negotiated a premium discount for its members and chosen a company with more than 30 years of experience in selling Long-Term Care insurance to help you protect yourself and your family from the high cost of care.
Once you need care it’s too late to buy Long-Term Care insurance
Who pays for long term care?
- NOT existing health insurance policies
- NOT Medicare, except for some limited home health care coverage
- NOT Medicare supplement insurance
Learn More About Protecting Yourself From |
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