| Here are Four Options
To Pay For Your Long-Term Care
- You can rely on others (spouse, children, etc)
to provide the help needed. This option is only available to
those with a support system in place and if the amount and type
of care required is possible for them to provide.
- You can self-insure and pay for your own long-term
care with your own assets and income.
- You can spend down all of your assets and then
qualify for Medicaid.
- You can transfer a predetermined amount of
risk of long-term care to an insurance company by purchasing
long-term care insurance.
| There are many reasons why people
buy long-term care insurance.
- Preserve your independence
- Guarantee your choice of care and caregivers (allow
you to stay at home as long as possible)
- Protect your assets and standard of living
- To avoid being a burden to your family
- To leave more assets to your family, church, alma mater,
or other worthy cause
- Peace of mind
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EXCUSE
#1 - "I am not going in a nursing home!"
The truth is, nobody in a nursing home today ever
wanted to be there. Due to the longer lives that we all now enjoy,
the chances of going into a nursing home have increased.
Rarely do people get to decide for themselves
if they will go into a nursing home or not. It is usually decided
by a doctor or a family member.
EXCUSE
#2 - "My
kids will take care of me!"
I wish that were true, we all remember when it
was. Your kids have both husband & wife working just to make
ends meet. Neither could quit their jobs to look after you.
Even if they want to take care of you, they won't
have the special skills necessary to help you.
Do you really want to burden them anyway?
EXCUSE
#3 - "The
nursing home is forever!"
Over 75% of nursing home patients recover enough
from their illness or injury to leave the nursing home.
In fact, most people WILL leave the nursing home.
EXCUSE
#4 - "I
can't afford long term care protection!"
The truth is, you probably can't afford NOT to
have long term care protection.
Consider the alternative of paying out of your
own pocket $45,000 a year.
EXCUSE
#5 - "I'll
never have to go to a nursing home!"
In fact, a recent AARP survey shows that 48% of
those ages 65 and over WILL have to go to a nursing home at least
once in their lifetime.
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