Staying Positive About the Future Is Wonderful with Long-Term Care Insurance

March is Optimism Month, but it’s not always easy to stay optimistic. When a person has a positive outlook about their future, it can be inspiring. If you are such a person, you may be having a positive influence on many people around you, including family and friends.

Long-Term Care Insurance Cost Rancho Bernardo CA - Staying Positive About the Future Is Wonderful with Long-Term Care Insurance

Long-Term Care Insurance Cost Rancho Bernardo CA – Staying Positive About the Future Is Wonderful with Long-Term Care Insurance

However, having a positive approach and outlook about the future doesn’t always make the future work out the way you hoped. People have worked their entire lives, saved, relied on a pension from their employer, counted on Social Security, and ultimately found themselves having to return to work in their 70’s, losing their home, or being dependent on children and others just to get through the rest of their days.

There could be a number of reasons why a person faces financial hardship as seniors. With the current economic climate in this country seeming to roar along, not enough attention is being paid to the national debt and unfunded liabilities like Social Security and private and public pensions (which are unfunded to the tune of trillions upon trillions of dollars).

When you reach retirement age, would you be able to withstand long-term care expenses?

This is the important factor to consider.

Many people have no idea just how much long-term care could cost. They don’t often think about it for themselves, even when they have a parent or grandparent who dependent on it. It might be a nursing home, assisted living community, or even in-home health care services that a senior relies on for months or possibly years.

The average cost of in-home health care has surpassed $55,000 annually for full-time care. Assisted living is quickly moving up and surpassing $75,000 per year. Nursing home costs have exceeded $85,000, with some places like Alaska ringing in at over $300,000 per year.

As you can see, the cost of long-term care can be eye-opening. It is also increasing.

Basic supply and demand economics stipulate that as more people retire as part of the baby boomer generation and the demographic of seniors 65 and over approaches 20 percent within the next 10 to 15 years, the cost of these types of care will only increase more.

Stay optimistic, but also be diligent.

That means it’s a good idea to look into long-term care insurance and start a policy if you’re in your 50’s already. The longer you wait, the more you run the risk of the cost of that policy increasing or being denied coverage because of health issues or family history.

When you protect yourself financially in the future, it becomes that much easier to remain optimistic.

If you or a loved-one are considering a Long-Term Care Insurance Cost in Rancho Bernardo CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.