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Lavine Long Term Care Insurance

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Who needs long-term care in Seattle?

People who have been healthy for most of their life find that if they have a stroke or have chronic conditions where they may need long-term care as they advance in their lives. For those people, they do not have a care benefit plan, your lifestyle, your family, and your estate will be disrupted.

Caregiving has a cost. If you have a long term care benefit, there is cash or reimbursement for services provided. For others it is Medicaid. For most it is family, friends, and service organizations who assist people with their care and activities. Families are no longer families and they become part or full time caregivers. Family life is disrupted, career opportunities are deferred, and contributions to their retirement and lifestyle is affected.

For this reason, it is important to plan ahead, and also to discuss your needs and your desired with your family, so that they can understand what you want, and they feel comfortable with those arrangements. You should begin investing in an insurance policy that will cover you for the care that you might be at risk of needing (based on your lifestyle or family history) in Seattle because once you are in a position where you actually need long-term care, it will be too late for you to make any changes

You should ask the following questions before you hire a caregiver or choose a care facility for yourself or a loved one in Seattle.

Long-term care for the elderly is helpful if the caregiver can be trusted. Paying for care is a concern no matter your level of financial success. Everyone thinks about cash flow and lifestyle expenses.

Who will the long-term care service send out to take care you? Do they have an RN on staff? Make sure you find out more about who will be interacting with the person they are caring for. Tell the Seattle company you want to know how long the employee has been with them and their credentials.

If an elderly person can get adequate long-term care, it will improve the quality of their life. No one wants to live at home or in a care center where they are unhappy, lonely, and not able to engage in social activities. Chose a care service in Seattle with caution for the best results.

Speak with an LTC solutions specialist who will provide useful information about care services information.

How long you may need care services depends on family history, your personal experiences, what you want to accomplish with a care benefit, and owning benefits which meet your budget.

There are a variety of considerations to consider:

  1. How long do you think you may need care?
  2. How much per month in benefits?
  3. Cost of living benefits in the plan to grow in value
  4. Limits of the plan -- how long will the pool of money be available in the plan?
  5. Cash flow which may be used for care services, along with a care benefit, which will not disrupt your lifestyle, your family, and commitments now and in the future, i.e. legacy planning
  6. There are a variety of benefits to consider: traditional, hybrid, and short term plans.

Myth 1: Medicare will cover me.

For the same reason that your regular health insurance will not cover long-term care, Medicare won't cover most long term care services. This is a financial and planning misconception that will require you to pay for long-term caregiver services using your current cash flow.

Myth 2: My spouse or children will take care of me.

What happens if your spouse also needs long-term care or you are single or your children are far away or are too busy or can not afford to take time off to provide the care you need? Demographics and family situations have changed in today’s modern, mobile workforce. You simply can’t rely on your family, children, social services, or service organizations to provide this kind of care.

Myth 3: Long term care insurance companies provide the only solution.

Owning a long term care insurance policy from a reputable private carrier remains the best defense against your future long-term care needs.

Myth 4: I can wait until I retire to own a long term care plan.

While it’s never too late (or too early) to purchase a long term care insurance policy, it is more expensive if you wait until you are in your 60s.

Myth 5: Long term care insurance covers only nursing homes.

Comprehensive plans cover care services whether you are living in your home or in a care facility.

Myth 6: “Elimination period” means waiting period.

This is the period between the time you qualify for care services and when you begin to receive long term care benefits. Riders are available to provide immediate benefits if care giving services begin at home.

Myth 7: I cannot afford long term care insurance.

Even modest policies from reputable long term care insurance companies may mean the difference between obtaining the care you need and subjecting yourself and your family to the financial and emotional stress of becoming your care givers.

Believing “I am in good health so I do not need to own long term care insurance” is contradictory to what happens in our lives. In addition, those who develop chronic health issues will no longer be eligible for any long term care plan. Now is the time to prepare.

Myth 8: It does not matter who sells me a plan.

Many people recommend and sell long term care plans: financial planners, general insurance agents, and other advisers.

Long term care insurance is a specialty benefit product. There are a variety of carriers and options to consider based on health, financial suitability, and what you want to accomplish. Consult with a knowledgeable planner who is competent and knowledgeable with underwriting requirements and carrier benefits.

This is something you and your family need to get right the first time.

Raymond on the Radio