For somebody who has been relatively healthy most of their life, in their 40’s, 50’s, or even their 60’s, they might not think about significant health issues or other limitations that could come around the corner in the future. As a result, these individuals might not think much about different types of insurance, including long-term care insurance.
Yet, long-term care insurance is a good idea for just about anyone, regardless of their age (at least when they have passed their 40’s and are moving through their 50’s and early 60’s). Long-term care insurance can help you save a lot of the money you have invested or saved for retirement so you can use it on the things you want, not just on long-term care.
Just because you are healthy doesn’t mean that will continue to be the case.
Most everyone understands there are different illnesses that can affect people at various stages of life, even if they have no prior history of health issues and no family history of such things.
For example, a person with absolutely no family history of Alzheimer’s could develop the disease in their own future. Imagine just how much it might cost for long-term care when somebody is dealing with Alzheimer’s disease.
Some may assume their spouse, adult children, and other family or friends will rally around and help them, and that might very well be the case for a while, but as the disease progresses the challenges will become much more intense. The pressure placed on that support system will become overwhelming for just about everyone.
That’s when most people will turn to professional, experienced long-term care, but that comes with a significant cost.
Research the cost of long-term care.
If you don’t know how much long-term care could cost, now is the time to look it up. There are many different types of long-term care you might consider, including assisted living, nursing home care, and home care support services, just to name a few.
In some places, nursing home care can cost upwards of $300,000 or more, each year. Imagine trying to pay for that yourself. Even if you have $2 million in investments and retirement savings, how long is $300,000 spent on long-term care going to last?
The average life expectancy for somebody with Alzheimer’s is 8 to 10 years. As you can see, just because you don’t have health issues in your history doesn’t mean you won’t in the future. That’s why long-term care insurance is so important to consider and review the coverage and premiums.
If you or a loved-one are considering Long-Term Care Insurance Premiums 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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