People are living longer today than at any of the time in history. That’s a wonderful thing. The average life expectancy may have plateaued, but for women, their average life expectancy is approaching 80. For men, they may be hovering around 76 or 77, but compared to just 100 years ago, that’s a significant increase. As people live longer, though, the chances they will require some type of long-term care also increases.
However, most of us don’t think twice about that prospect.
We rarely ever think about what’s going to happen (or more specifically, what could go wrong) when we are in our 70’s or (if we are blessed enough to reach them) our 80’s. We just assume everything is going to be going along the same track, the same path, and that we will be able to do the same things we had five, 10, or even 20 years previously.
The reality is much different. In reality, most of us will struggle with our physical capabilities by the time we approach our 80’s. Some of us will struggle before we even reach 70. We may still be able to take care of ourselves for the most part, but we might not be able to drive or get to the store on our own.
What are we going to do then? More pressing as an issue is what we would do if we required long-term care, whether it is ongoing and for the rest of our life or for several months as we recover from major surgery, injuries, or a medical emergency.
How much is that going to cost?
Many Americans are admonished to save for retirement as early as possible. Most full-time working adults do invest in some type of retirement plan, usually a 401(k). Depending on how the stock market does can directly impact how much we end up with when we retire.
What about protecting our assets for the future? What if, for example, you had paid off your house, it was valued at $250,000, and you had $100,000 in various savings and investment accounts by the time you reached 65, your target retirement age? What if, then, you suffered a major medical emergency or accident and required long-term care in the form of direct nursing care at home or in a nursing home?
The cost of that could well exceed $100,000. How quickly will all of that money you saved for retirement evaporate? Forget that reverse mortgage you planned to use to travel with your spouse; you will barely be getting by.
That’s why it’s so important to consider long-term care insurance.
If you or a loved-one are considering Long-Term Care Insurance Cost in Del Mar CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
I work with all the major insurance companies and my objective is to help my clients determine if long term care protection makes sense for them and if so, to help them shop the market to find the best company at the best rate
I specialize in Traditional Long Term Care Insurance as well as Hybrid Long Term Care Plans which are either a combination of Life Insurance and Long Term Care or an Annuity Plan with Long Term Care
I’ve been specializing exclusively in Long-Term Care Insurance Planning for over 21 years.
Steve was recognized as a 2003 Long Term Care Expert of the Year at The National Long Term Care Producers Summit
2006 was awarded Senior Market Advisor of the Year Finalist by Senior Market Advisor Magazine
National Speaker for Numerous Industry Meetings
Awarded Nations Top 10 Agent 8 times by the American Association of Long Term Care Insurance
Author of numerous published articles on long term care planning