Commonly Asked Questions

There is no requirement to own a plan to pay for 'activities of daily living.' People own an LTC to create an infrastructure of care benefits to have choices. You may then decide about your care, options, and whether family, friends, skilled care services, or a combination.

Are you comfortable having Medicare, Medicaid, the veteran's administration, or other social services to decide where and how you will receive care services?
Or do you want choices with where you want your care (at home or in a care center), who will be responsible for your care, or do you want a professional health aide, and how will you pay for your care services?

There are 3 criteria:

1. Your Health
2. Financial suitability and
3. What do you want the plan to accomplish to provide enough benefits to transition from an active lifestyle to needing care for daily living activities?

There are 3 questions to ask yourself.

1. What will happen to your family, money, and lifestyle?
2. If I need care services, what assets and personal income will I need to pay for my care services?
3. Are you comfortable paying for your activities of daily life care with before or after-tax income?

Most people think about long-term care insurance in their 50s and 60s. Some wait longer. The older you are, the more people are denied benefits because of health, or the premiums are more than they want to spend because they are closer to needing care. People who pay annually get a discount.

People shop for price and then want value. Long-term care insurance is different than shopping for other forms of insurance.

1. Once you own a plan, you will own it until you use the benefits or die. People seldom change plans for alternative LTC benefits. The reason is the premiums in the birth year you apply. Services in a plan may be less generous; eventually, the carriers will only allow coverage because of health, age, or premiums).
2. People believe they can self-insure, Medicare, veterans benefits, or Medicaid will pay for their care, and all is well. Yes, it will help, but it isn't what people want. That is where the conversation gets people to realize, "Now I understand what this is about," or "I never thought about it that way."

Average cost: $ 2,007 per year *
Low cost: $1,764
High cost: $3,446

* Average Cost (with preferred health discount): $ 1,720 per year
Age 55, standard health rate. The initial policy benefit for EACH is $164,000 based on a Daily benefit of $150 and 3 year benefit period. The coverage value will increase annually because a 3 percent compound cost of living is added to the plan.

Long-Term Care Insurance Rates for Couples Both Age 55
Average Cost: $2,466-per-year (combined)
Low cost: $2,080
High cost: $4,824

Both individuals are age 55, with standard health rate. The initial policy benefit for EACH is $164,000 based on a Daily benefit of $150 and 3 year benefit period. The coverage value will increase annually because a 3 percent cost of living is included.

Long-Term Care Insurance Rates for Couples Both Age 60
Average Cost: $3,381-per-year (combined)
Low cost: $2,794
High cost: $5,637

Both individuals are age 55, standard health rate. The initial policy benefit for EACH is $164,000 based on a Daily benefit of $150 and 3 year benefit period. Coverage value will increase annually because a 3 percent cost of living is included.

There is no requirement to own a long-term care plan. People own long-term care benefits plan TODAY for Tomorrow's personal choices with where, when, and how they receive life care activities.

There is no requirement to own a plan. Medicare, Medicaid, and the veteran's administration are not obligated to provide the caregiving support services that you choose.

There is a benefit that is of value to those who own an LTC plan. With owning a plan, the family can access 'care support service' at no additional cost. A licensed healthcare professional helps families assess needs, develop a personal care plan, and arrange daily life services activities.

Additional services provided with no additional fees:

• Caregiving training
• Durable medical equipment
• Home modification

The plans will pay because it is a chronic health situation, and it affects your active lifestyle:

• Bathing and Grooming
• Dressing and Undressing
• Meal Preparation and Feeding
• Functional Transfers
• Safe Restroom Use and Maintaining Continence
• Walking
• Memory Care and Stimulation (Alzheimer's and Dementia)

Watch the Video: https://bit.ly/2IpFFAG
Medicaid, family, friends, retirement assets, and cash flow available (after taxes). People believe that they will be lucky and die quickly. The reality is most people do not die soon. In most situations, we transition from an active lifestyle to needing care because daily activities require family and professional care services.