Why is LTC an issue?

• “CHRONIC” Custodial Care is NOT COVERED by Medicare or any other form of insurance.
  
• Custodial Care is EXPENSIVE, especially at home : $6000/mo (Los Angeles) - $7500/mo (Salt Lake City) or more, just for a 12 hour shift daily!
  
• HALF OF ALL WOMEN AND A THIRD OF ALL MEN who turn 65 will need custodial care at some point, with an AVERAGE CLAIM OF 2.5 years, according to America’s leading consumer magazine.
  
• Lengthy bouts of Custodial Care can (and do) drain substantial estates, and overwhelm pensions or other retirement income. These issues should be covered in EVERY FINANCIAL PLAN.

What is Custodial Care?

Custodial Care is “maintenance care,” that is, assistance with the basic activities of daily living (bathing, dressing, etc). Custodial Care is often required both DURING and AFTER “acute” medical treatment, including rehabilitation. It can be received at home, in an adult day care or “assisted living” facility, or in a nursing home.

Remember, once curative or rehabilitative treatment STOPS, Medicare or health insurance coverage for the Custodial Care necessary also STOPS, EVEN IF YOU STILL NEED IT.

Why doesn’t everyone have LTC insurance?

• It’s EXPENSIVE & HARD TO GET, especially if purchased after age 50.
  
• It has been HYPED by over-eager salespeople.
  
• It’s COMPLICATED – options abound, so shopping takes time & energy.
  
• It’s MISUNDERSTOOD – many still don’t realize that they are really not covered.
  

Should everyone have LTC insurance?

• NO, but everyone should plan for Custodial Care expenses

HOWEVER…

• LTC insurance is usually the MOST EFFICIENT, COST-EFFECTIVE WAY to protect assets and family independence. It is the easiest way to KEEP CONTROL of the family’s lifestyle, and maintain the dignity of the affected family members.

What about COST?

There are many different ways to pay for LTC insurance.

• Monthly or annually using disposable income

• Monthly or annually, etc, using HOME EQUITY via a Reverse Mortgage or traditional refinance.

• Fund a “Long Term Care Annuity”, using equity or deposit assets, which will pay up to 3 x deposit amount in benefits.

• Buy a combo Life/LTC Policy that will pay LTC benefits if you live, or the death benefit if you pass away (most offer “return of premium” benefit too).
  

Call David Whiteside at 800-820-6273