Should You be Thinking About Long-Term Care Insurance?

By Steve Elliott | November 28, 2023 | Comments Off on Should You be Thinking About Long-Term Care Insurance?

Long-term care insurance is not something most Americans are thinking about. In fact, few Americans who even have a strong 401(k), pension program, or other retirement benefits already socked away by the time they are 50 or 55 consider long-term care insurance. They have not even considered getting a long-term care insurance quote.

Is that because it’s not ideal? Absolutely not. Unfortunately, not many Americans consider long-term care insurance because they honestly don’t realize how valuable it can be during those golden years of life during retirement.

What could long-term care insurance do for you?

Long-Term Care Insurance Quote San Diego CA - Should You be Thinking About Long-Term Care Insurance?

Long-Term Care Insurance Quote San Diego CA – Should You be Thinking About Long-Term Care Insurance?

First and foremost, it could help protect your retirement investments and savings when you need it most.
Most people have dreams and ambitions for retirement. They may want to travel, visit new countries, visit other places across the country they never got to see during their working years, visit grandchildren, and so much more.

What if you were injured, had a stroke, were involved in a car accident, or something else that required a long time to recover from? Do you have any idea how you would pay for that recovery?

Most people don’t. They just assume that either Medicaid or their primary health insurance is going to cover it. But they don’t. At least not most of them. Medicaid only covers one type of elder care, most notably nursing homes in most states, and only after the person has exhausted all of their available savings and assets. Some of those assets include the equity they have in a primary residence.

In reality, most people would be financially devastated if they had to cover six months, a year, or even two or three years of long-term care out of pocket. This is one of many reasons why so many aging seniors in their 70s and even 80s have to return to work, taking whatever jobs are available for their physical abilities, health issues, and age.

When should you start considering long-term care insurance?

The optimal age is right around 55 but that doesn’t mean you should wait until you’re 55 before you start looking into long-term care. Nor does it mean that if you are 60 or even 65 it’s too late. Yes, the longer you wait, the greater the risk of being denied coverage due to health issues, family history of health issues, and other factors, and premiums may be higher for somebody who starts a long-term care insurance policy at 65 compared to somebody who starts at 45, but it is definitely something to look into and get a long-term care insurance quote if you have retirement savings and investments you want to protect.

Protect your future and loved ones with long-term care insurance.

No matter how many difficulties, no matter challenges, frustrations with your career, marriage falling apart, health declining, or the world in chaos, you owe it to yourself and those you love to stay protected and guard your retirement now.

Long-term care insurance is one way to help guard against unexpected expenses during your retirement years, and it’s great peace of mind, even when your life (or life in general) seems to be spinning beyond your control.

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

Steve Elliott
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