If 50 is Fast Approaching, It’s Time to Look at Long-Term Care Insurance
If you’re one of the millions of people who are staring down the barrel of 50, you might feel as though life is suddenly moving too quickly. Time passes faster, it seems, the older you are. You may be fully immersed in your career, raising a family, and not even thinking much about the future. But, it’s time to do that. That’s why now is the perfect time to consider long-term care insurance.
Why would you need long-term care insurance?
Long-Term Care Insurance San Marcos CA – If 50 is Fast Approaching, It’s Time to Look at Long-Term Care Insurance
Most people incorrectly assume that their health insurance policy or Medicaid is going to cover long-term care expenses. In most cases, insurance is only going to cover short-term care, such as a few weeks at a hospital or nursing home.
Medicare and Medicaid isn’t going to pick up these long-term care expenses until you use up almost all of your available assets, even if you are dependent on Medicare and are retired.
As a result, most people end up completely surprised, caught off guard that they have to cover these long-term care expenses themselves. Imagine having to use of your savings, cash out some of your retirement investments, or even take a reverse mortgage on your house in your 70’s just to cover long-term care expenses!
If you have no idea how much long-term care costs now, you will be completely caught by surprise in 15, 20, or even 25 years. Supply and demand economics and inflation are going to raise these costs through the roof.
Why start looking at long-term care insurance now?
The older you are, the faster you move through your 50’s and head into your 60’s, the more likely the cost of long-term care insurance policy is going to increase. You may even reach a point when you are no longer eligible for coverage due to family history or other health issues.
If you begin a policy in your early to mid 50’s, that is considered the “sweet spot” for long-term care insurance. The generally means the cost of the policy will be reasonable and will put you in the lower risk category as you move into your late 50’s and 60’s for needing some type of long-term care.
The older you get, the more likely you will require some type of long-term care. If you don’t want to be caught by surprise and have to pay for it out-of-pocket, potentially eroding your entire retirement savings, consider long-term care insurance now. It is the perfect time to look into it.
If you or a loved-one are considering Long-Term Care Insurance in San Marcos CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
I work with all the major insurance companies and my objective is to help my clients determine if long term care protection makes sense for them and if so, to help them shop the market to find the best company at the best rate
I specialize in Traditional Long Term Care Insurance as well as Hybrid Long Term Care Plans which are either a combination of Life Insurance and Long Term Care or an Annuity Plan with Long Term Care
I’ve been specializing exclusively in Long-Term Care Insurance Planning for over 21 years.
Steve was recognized as a 2003 Long Term Care Expert of the Year at The National Long Term Care Producers Summit
2006 was awarded Senior Market Advisor of the Year Finalist by Senior Market Advisor Magazine
National Speaker for Numerous Industry Meetings
Awarded Nations Top 10 Agent 8 times by the American Association of Long Term Care Insurance
Author of numerous published articles on long term care planning
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