At this time of year, many people have New Year’s Resolutions they will never uphold.
One resolution you probably didn’t make is one you should act on immediately.
“If you fail to plan, you plan on failing. A successful retirement plan should address the risk of longevity,” said Matt McCann a nationally known expert on Long-Term Care Insurance and planning.
How will your long-term care health costs impact your savings, family and lifestyle? Having an advance plan is easy and affordable and especially important with an ever-improving economy.
“The financial costs and burdens of aging will have a dramatic impact on not just your assets, but on your family – and the burden on loved ones is tremendous,” McCann said.
McCann says to consider the future cost of care at home, adult daycare, assisted living, memory care and nursing home the impact on the bottom line will hurt even those who have substantial savings.
Health insurance, Medicare or its supplements generally don’t cover the cost of care. Unless you have a Long-Term Care Insurance policy, these costs will be borne on you.
Cost can vary from state to state. In Illinois, for example, the cost can range from $4,000 a month to as much as $10,000 or more. In Georgia, that cost is much less. You can find the cost in every state here: www.ltcnews.com/resources/state-information
“The best time to get a Long-Term Care policy is before you retire when premiums are low and you qualify for good health discounts. Most people I speak with are ages 45 to 65,” McCann noted.
McCann assists people nationwide using his unique process where they speak with him on the phone while seeing his computer screen on their computer. He works with all the major companies in Long-Term Care.
McCann recommends several reference websites for research:
LTC News offers articles and resources: www.ltcnews.com
US Department of Health and Human Services: www.longtermcare.gov
Free LTC Quotes: www.quoteonltc.com
McCann’s website also features several outstanding resources.