| In these days of economic uncertainty it is essential that people have a sense of security and peace in terms of their future. Long term care insurance is a way to help preserve that. |  |
What is Long Term Care?
Long Term
Care can be defined simply as care provided by another party for
the benefit of someone who is unable to care for themselves. The
kind of help you need if you are unable to care for yourself because
of aging, an illness, or a disability whether temporary or permanent.
It can range from help with daily activities at home, such as bathing
and dressing, to skilled nursing care in a nursing home. Long Term care
is provided by home care agencies, senior centers, adult day centers,
traditional nursing homes, and family members.
Protecting Retirement Income
Even in these challenging economic times many people are looking to retire
in the next few years and maintain their current lifestyle which makes
this an opportune time to consider the value of long term care planning
so you can feel safe and secure knowing you have some control in the
future financially.
Most people plan on their retirement money to provide the income to maintain
their lifestyle.
It takes a $2 million investment portfolio to provide $100,000 if it
has a 5% rate of return. The average cost for nursing home is over $75,000,
which leaves $25,000. How much will you (and spouse) need to cover both
long term care and living expenses (lifestyle).
In some states children will end up paying for their parents care. It's called the filial law.
You have 5 options for financiing long term care.
- 1. Self-insure : pay out-of-pocket
- 2. Medicaid : requires poverty level assets/income.
- 3. Long term care insurance : high leverage, Medicaid protection in most states.
- 4. Life insurance with a long term care rider : money up front, return of premium.
- 5. Annuity with a long term care rider : with and without underwriting, an option for uninsurables.
Long term care planning can protect your income stream -- you might say that long term care planning provides the peace of mind that in the event that you need extended care your family's lifestyle could remain intact.
Only traditioinal long term care insurance qualifies for Partnership asset protection, Life/LTC and Annuity/LTC do not qualify, neither do older policies sold before your state adopted Partnership, this includes policies sold by AARP and other marketing outlets.
See the Partnership Maps for which states offer Partnership and which states offer asset disregard reciprocity.
Long-Term Care Insurance is an insurance policy that will allow family members to care for loved ones longer and better through the policy’s benefits. Theses benefits are covered by the Long Term Care Insurance policy in four major areas:
- Daily Benefit
- Waiting Period
- Coverage Period
- Inflation Protection
At Partnership for Long Term Care our mission is to allow family members to care for loved ones longer and better through an easy choice of long term care planning choices. It's better to insure a year early than a day late!
We make it easy to get a quote, but first see if this is affordable with our Quick Quote chart. There's no pressure and no obligation.
If you have been declined for long term care insurance or have health issues, read about the Annuity with LTC benefits – an option that has less strict medical underwriting. If you have been declined we may be able to help with an annuity or in some cases a reversal of an underwriting decline.
The schedule for getting long term care insurance:
First, fill out the online form with theinformation necessary to provide you with health
pre-qualification. - Second,
phone or email contact will follow. You
have the option of having an online meeting (WebEx) or meet with an agent in person.
- Third,
review your quote and information on the top companies in the industry
and have our specialists answer all of your questions.
- Fourth,
you choose the company and plan you want, and we send you the application.
- Fifth,
complete the application and return it.
- Finally,
if the application is approved a policy is issued and sent to you. You will have 30 days to decide to buy, change, or cancel the policy.
With experience of over 25 years in long term care planning our experts work with the largest and most financially secure insurance companies to make sure your future is protected. Your future is our future.
We do our best to make it easy to get a quick long term care insurance quote online. When you complete your quote request, you’ll receive an insurance quote allowing you to choose the plan that’s right for you! Remember you choose the company and plan benefits, and leave the rest to us. No hassle, no pressure, no fuss.
The Cost of Long-Term Care Services
Cost depends on your area and what
type of care you need. Here are the national average rates based
on the 2012 Market survey of Nursing Home, Home Care, and Assisted
Living Costs:
NURSING HOME
COSTS
Semi-Private daily room rate
= $200
Semi-Private yearly room rate = $73,000
Private daily room rate = $220
Private yearly room rate = $80,300 (compare New York City $164,250)
HOME HEALTH CARE
Hourly rate = $20
ASSISTED LIVING – BASE RATE
Monthly rate = $3,300
Yearly rate = $39,600
The average amount of time in care is 3-years. How are you going to pay?
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The Partnership for Long Term Care
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Consumer Information State Tax Incentives- some states provide tax deductions for LTC insurance premiums. These are pdf files you can view in your browser
or download. Shoppers Guide Medicare Guide |
Call us,
email us or fill out our online form and one
of our licensed specialists will answer all your questions.
Call Toll Free: 1-888-582-2464
Monday - Saturday 10-4 PST
The BEST investment is one that you do not have to think about.
Our Insurance Providers:The companies we recommend are the largest and most financially stable. If you have a preference of companies let us know. |
