Retirement and Financial Planning

Long-Term Care

Long-Term Care: The Care You Need – When You Need It Most

According to the federal government, a possible 75% of senior citizens may experience the need for long-term care at some point during their long lifetimes, whether due to physical or mental diminished capacity. This need for long term care can be as simple as in-home assistance, or require placement in a full-time nursing home or other care facility.

Unfortunately, the vast majority of seniors have no protection from this very legitimate threat. Some cannot qualify for traditional coverage due to poor health, some assume the government will take care of them, some cannot afford the premiums, and others are simply in denial. The need for coverage is real, and insurance carriers have recognized that conventional long-term care policies are not the answer.

New Nursing Home and Long-Term Care Coverage Plans

For those without traditional long term care coverage, there is good news. Over the last decade, there have been some highly innovative insurance solutions developed that can help individuals protect themselves while not throwing money away if they end up not needing care. We strongly encourage you to allow United Financial Group to help you explore your coverage options.

Remember, Medicare plans do not cover long-term care. Too many healthy spouses have been bankrupted by the spend-down requirements necessary to qualify for Medicaid. And children have lost their expected inheritances, too.* Protect yourself and your family. Hybrid insurance policies or riders on annuities can provide multiple benefit options, including long-term care coverage if you end up needing it. Contact United Financial Group today.
*We can help with Medicaid planning if needed; working with an attorney partner to help reposition assets.

Ask us about new optional riders for long-term care which can be more advantageous than traditional policies. You no longer have to “use it or lose it” when it comes to those premium payments.