Do Not Grow Old Without A Long Term Care Plan
What are we talking about?
Long-term-care insurance:
It can make the difference between living out your life the way you want and becoming a burden to your family or a ward of the state. But it is becoming significantly more expensive, more complicated and harder to get with each passing year, according to research published in the Wall Street Journal, April 17, 2012.
Here is more:
75% of us have never had a conversation about long term care with the people closest to us…yet 70% would not know what to do if a family member needed immediate long term care!
— Health Insurance Underwriter, February, 2012
It is possible you have already heard of long term care, but do you really know what it is?
Alarmingly, 60% of Americans will need long term care sometime during their lifetimes. Lack of a conversation or a plan can cause confusion if a long term care event should happen, because most people assume family members, primarily women, will handle care needs. Yet few of us would be willing to quit work or devote most of our time to become the primary care giver to someone in need of long term care.
Long term care (LTC) is the medical term for the help, care and assistance people need when they develop incapacities, disabilities or chronic conditions, often simply due to aging, and they are no longer able to do all the activities of daily living for themselves. These are not medical treatment costs covered by regular medical insurance or Medicare.
How Long Term Care insurance can benefit you –
Protecting yourself from bearing the cost of long term care services is extremely important, but understanding the available options can be difficult.
“For those who need extended nursing home care,” reports the Associated Press, “Medicaid has become the default provider, since Medicare only covers short-term stays for rehab. But Medicaid is for low-income people, so the disabled literally have to impoverish themselves to qualify, a wrenching experience for families.”
In fact, again as reported by the Journal:
Medicaid is tightening up its restrictions for families hoping to use it to help pay long-term-care costs. Some states no longer let older adults buy annuities and then exclude those assets when they apply for financial assistance. Others are more aggressively recovering from the estates of people whose care costs were paid by Medicaid.
Unfortunately for consumers, shopping around is difficult, according to the Journal. Policies from different carriers are packaged with a proliferating number of bells and whistles. Life-insurance policies and annuities that include long-term-care benefits are introducing more options, but also making the selection process that much more involved.
So how can you figure out how to get the best deal on long-term-care insurance, whether you are buying it for the first time or being hammered with rate increases?
Here are the essentials.
Besides your age and health, three factors have the biggest impact on determining your premium: the daily benefit, the length of coverage and the inflation protection you choose.
The U-Haul Dealer Benefits Program is pleased to now be able to make private Long Term Care Insurance available to dealers and their employees and families.
As you expect with the U-Haul Dealer Benefit Program, we have worked hard to make it easy for you.
The key feature of our LTC program is the emphasis on awareness and education. You can review your options for LTC insurance, select the coverage you want and enroll with the guidance of one of LTC Financial Partners local LTC specialists who have agreed to represent our program and who have dedicated themselves professionally to only providing LTC education and insurance.
The goal of our sponsored LTC education and insurance program is to enable you to create your own tax-favored benefit fund using affordable private insurance to help cover LTC costs.
See how you can stop worrying about the financial costs and emotional burdens of Long Term Care on your family and business. Learn how to protect yourself, your family and your business.
Take advantage of our new LTC Education Program. It is private and secure, and it is free whether or not you decide to buy long term care insurance.
Just call the Dealer Benefits Center at 877-720-2164 and ask our experienced benefit staff about Long Term Care.
Or visit www.UHaulDealerLTC.com