You don’t often think about the worst things happening to you, but they happen, all the time, maybe not to you, specifically, but to people in general. This is why many people carry different types of insurance; they want to protect themselves against the prospect of something really bad happening. Whether it’s life insurance, health insurance, or even long-term care insurance it’s time to contact companies to get more information about coverage.
Or, if you’re like too many Americans in their 40’s, 50’s, or 60’s, you might not have thought anything about long-term care insurance before. Maybe you never even heard of it, and that’s okay, for then, but not for now.
It’s time to consider contacting long-term care insurance companies.
Just because you might not have known anything about long-term care insurance before doesn’t mean you can continue to ignore it, or the benefits it could provide you or someone you care about.
If you’re in you mid-to-late 40’s, in your 50’s, or your early 60’s, now is the time to think about long-term care insurance. That’s because it could provide the financial support you need in the future, should you, your spouse, or another direct dependent require long-term care.
What constitutes long-term care?
It’s any type of care that extends for months, possibly even years. Keep in mind, though, that long-term care insurance isn’t going to pay for long-term care indefinitely. However, two years of long-term care, for example, could financially wipe out most families in the U.S.
We don’t think about how dire the financial health of most Americans actually is. We assume that since people work for a pension, have Social Security to count on, and their 401(k), that everything is fine, but in truth, the economic outlook for most aging Americans is bleaker than they even realize. Within just a couple of years, everything they worked and saved for could be lost. Everything they scrimped and invested could be obliterated, all just to cover long-term care costs.
Long-term care could be a home care aide, someone who supports the senior in their home. It could be assisted living. What might happen if you or your spouse was diagnosed with Alzheimer’s or another form of dementia and needed a memory care facility? Who is going to pay for that?
Long-term care could be nursing home care. Did you know that in some states, the cost of nursing home care can exceed $300,000… per year? Just think about how quickly all of your savings could be used up in that situation! When you realize that, you see how fast everything you saved could be wiped out.
But won’t Medicaid cover those expenses?
This is a common mistake many people make. They assume Medicaid would kick in to cover these long-term care costs. That only happens when you have used up all of your available savings and assets paying it out of pocket first.
Surprising? Yes, which is why now is the time to consider contacting long-term care insurance companies. Tomorrow isn’t guaranteed and if you want to protect your financial life, consider this type of insurance now.
If you or a loved-one are considering Long-Term Care Insurance Companies in Carlsbad 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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