David HaynesDavid Haynes, CLTC, is an independent insurance broker specializing in long-term care insurance planning. Contact David at 336-314-1698 or david@haynesltc.com.
Spring always marks a new seasonal beginning. It’s a time of packing up winter items and looking forward to better weather, enjoying outside events and spending more time with family and friends. It can also be a mid-year opportunity of reevaluating financial decisions and family protection issues.
Planning often involves reviewing insurance programs that help us manage events that could otherwise have catastrophic financial consequences. One of the most important conversations to have with family members is Long Term Care Planning. It’s a subject that many need to address but are often unsure about. As we age, our bodies begin to require certain assistance for us to function. Long term care is assistance provided because of the inability to perform activities of daily living due to an illness, injury, or progressive cognitive impairment. These events can happen to anyone at any age and at any time. You expect to live a long and happy, healthy life. That an event may occur that could disrupt your future plans is not something most of us will admit. If you have personally experienced a care event with a family member, you can relate to these thoughts.
Statistics are alarming about needing care either at home or in a facility setting. It comes at a cost that most people are not often prepared for. The best source of dollars is an insurance policy that will protect your nest egg.
Most of my clients decide on a long term care policy well in advance before it is ever needed. If you are over age 50 now is the time to consider looking into a plan. Obtain a plan now and secure it’s protection for later. Most of you reading this article do not need the “benefit” of care now, but simply need the “coverage”. Long term care policy benefits will come later when they are needed the most.
A long term care policy is designed to provide dollars for an event that statistically may occur in your lifetime. It provides dollars to help your family manage your care and provide options that may not otherwise exist.
I’m honored to plant a seed of information each quarter in this guide for planning ideas. Long term care planning involves action. Let’s face it, we hope to live a long healthy life. That hope may require us to plan today for that journey tomorrow. If you have read to this point and are wondering if a long term care insurance plan is something to consider, then it probably is. Let’s have a conversation! “Don’t hope for the best, Plan for it.”