ConciergeHNW - Long Term Care

How will you pay for the cost of care?

The cost of care, whether at home or at a spcecialized facility, represents a financial burden that relatively few are ever prepared for. And with costs escalating, the problem is only getting worse. In the New York area, a year in a nursing home can cost well more than $100,000 each year. You may have experienced this first hand with a parent or grandparent. You may be concerned about the financial burden that may fall on your children should you need care. Whatever the motivation, it is important to get educated about this issue and to plan accordingly.

Please review the information in this site and contact us at any time to discuss your insurance needs.

LONG TERM CARE

Things to Consider:	The Solution:	Sources of Long Term Care Funding:
The emotional and financial burden on family (children, spouse) In today's society, the pressure on working parents attempting to raise a family while caring for parents can be overwhelming. Loved ones can be conflicted between paying for the best possible care and perserving capital. The cost - In the NY tri-state area, the annual cost of care in a long term facility can exceed $100,000. Many people overetimate the amount of money they will have in retirement, or to pass on to loved ones, by underestimating and not planning for the cost of care.	Long Term Care Insurance provides you with a source of funds for care at a nursing home, or for extended care at home. Important Product Features: Benefit Amounts and Duration Periods Inflation Protection Nonforfeiture benefits Guaranteed Renewability Waiver of Premium	Personal Savings Income including investment income Liquidate Stocks and other investments Liquidate assets Other Family Members Individual Long-term Care insurance - If you can afford long-term care insurance, it may be the best way to avoid depleting your life's savings Additionally, having such coverage can provide peace of mind. Having it ensures that you will have access to first-rate care when you need it. It also means you won't have to be dependent on others or a burden to your children.

Things to Consider:

The Solution:

Sources of Long Term Care Funding:

The emotional and financial burden on family (children, spouse)

In today's society, the pressure on working parents attempting to raise a family while caring for parents can be overwhelming.

Loved ones can be conflicted between paying for the best possible care and perserving capital.

The cost - In the NY tri-state area, the annual cost of care in a long term facility can exceed $100,000. Many people overetimate the amount of money they will have in retirement, or to pass on to loved ones, by underestimating and not planning for the cost of care.

Long Term Care Insurance provides you with a source of funds for care at a nursing home, or for extended care at home.

Important Product Features:

Benefit Amounts and Duration Periods

Inflation Protection

Nonforfeiture benefits

Guaranteed Renewability

Waiver of Premium

Personal Savings

Income including investment income

Liquidate Stocks and other investments

Liquidate assets

Other Family Members

Individual Long-term Care insurance - If you can afford long-term care insurance, it may be the best way to avoid depleting your life's savings Additionally, having such coverage can provide peace of mind. Having it ensures that you will have access to first-rate care when you need it. It also means you won't have to be dependent on others or a burden to your children.

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