Have you ever thought about what’s going to happen in your future? If you’re like the average American worker, you might have some type of retirement portfolio in place. Most often, this is provided through your employer. It could be a 401(k) or some other retirement investment strategy that your employer matches or manages, so you don’t worry too much about the future in that sense. While you might not be thinking about your health and safety for the future, what about the prospect you may need some type of long-term care? Talking to long-term care insurance companies could give you some guidance on this matter.
What about your health and safety? As you get older, you start to feel the effects of age more intimately. The things you used to take for granted, the things that were once easy to do, become a bit more complicated.
In truth, you probably aren’t leaping off of balconies, running down the street, skateboarding, or doing other youthful activities because you understand you don’t heal quite as well as you did in the past. You also understand your strength and balance isn’t quite the same.
If you never thought about this, you probably never thought about long-term care insurance or contacted long-term care insurance companies.
You’ve heard about life insurance. Maybe you have a policy. Is it a term life policy or a whole life insurance policy? For the purposes of this article, that doesn’t really matter. You probably have an idea of what life insurance is all about.
You are trying to protect your family in the event something happens to you before you expect to pass away.
Did you know that long-term care costs could be far more financially devastating to you and your spouse in the future than one of you passing away unexpectedly? This has nothing to do with the emotional trauma of that type of event, but the financial impact of it.
Most people have no idea how much long-term care costs.
There are many different types of long-term care, of course. You have home care, assisted living, nursing homes, and other forms that could be instrumental at helping you recover, maintain safety, or even live with some type of quality of life.
You might not realize it, but the average cost of nursing homes in the United States is about $85,000 now. That cost is only going up, and fast, thanks in large part to the fact the baby boomer generation is retiring and how the pandemic has impacted the industry.
In some states, the cost of nursing home care for just one year is well over $300,000. No, Medicaid is not going to cover that for most people until they use up all of their available savings and assets.
Now you start to realize how important it is to think about long-term care, even if you don’t believe it will be necessary for you or your spouse or other dependent in the future. No one knows what tomorrow will bring. Accidents happen every day.
If you don’t know the odds, you are taking a chance. That’s why you should look into long-term care insurance now and contact long-term care insurance companies to discuss what is covered and what the rates are.
If you or a loved-one are considering Long-Term Care Insurance Companies in Encinitas CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
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