Long-Term Care Insurance for When Life Throws Curve Balls Your Way

While many people carry some type of life insurance policy, they understand that eventually, they will pass away. They want to leave their dependents — whether it’s a spouse, children, grandchildren, or others — with some financial means to either cover their final expenses or to enjoy something they left behind. Yet, not everyone considers long-term care insurance, mostly because they don’t assume they will ever require it. And this leads us to the main point of this blog: that every day, there are situations in life we can’t and would never predict.

Long-Term Care Insurance Carmel Valley CA - Long-Term Care Insurance for When Life Throws Curve Balls Your Way

Long-Term Care Insurance Carmel Valley CA – Long-Term Care Insurance for When Life Throws Curve Balls Your Way

Because of that, an unexpected health emergency, accident, major surgery, or other condition can arise that might take months, possibly even years to recover from. In some cases, recovery may not even be possible, but rather the individual would require constant, ongoing care and support.

Life can be unpredictable. That may be one of the biggest understatements there is, but the point is this: every single one of us has had unexpected circumstances fly into the path of our life. You can map out every detail of every day of your life and still be met with things you didn’t anticipate, what some might refer to as “curveballs” being thrown at you.

When even the most diligent planning individual faces unexpected circumstances, it shows how unpredictable some aspects of life can be. If that’s the case, wouldn’t it stand to reason that, even though you may not expect to ever require it, long-term care may be necessary for your future?

First, can you afford long-term care on your own?

Most people never ask this question because they assume either their health insurance provider or Medicare is going to cover those expenses. In most cases, no health insurance policy accounts for extended, ongoing long-term care. And Medicare is only going to provide for a certain type of elder care, like nursing home care, and only after the individual is at least of retirement age and uses up all of their available assets first, which can include savings, investments, and equity in a home they own or have a mortgage on.

Depending on the type of long-term care you require, did you know that some nursing home costs can exceed $300,000 each year?

Now, to ask that question again, “Can you afford long-term care on your own?” Most people can’t. And, if they can, it could wipe them out financially.

Second, will you ever need long-term care?

Maybe you won’t. However, as with any number of insurance types, there are out there, you may never need to file a claim. That would be a wonderful thing. However, if you don’t consider long-term care insurance because you assume you’ll never need long-term care, you are setting yourself and possibly your spouse or another dependent up for a serious surprise.

The sooner you begin a policy, the more affordable it might be. You don’t know what tomorrow will bring and, because of that, you should at least consider a long-term care insurance policy, especially if you’re in your mid to late 40s or early to mid-50s. The longer you wait, the greater the risk you take.

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

Steve Elliott