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Long Term Care Insurance

Long term care is the single most catastrophic financial risk faced by almost everyone. Yet many of us are not properly prepared to face this challenge, even those with current life or health insurance may find that they do not have access to funds when needed most.

Startling new statistics reveal that 1 out of 2 people risk catastrophic long term care expenses in their lifetime. For most, that means someone in their immediate family will be affected. If there is no protection in place, the sad truth is that the financial and emotional impact can be devastating.

In addition, the estimated loss of productivity due to absenteeism of care givers is estimated at $3 billion annually. Over half of all caregivers are in their prime working years (54% are between 35 and 64 years age) thus potentially impacting productivity.

Many of us spend 20 – 30 years building a nest egg for retirement, yet fail to insure against the very real possibility of having lifetime savings depleted by the custodial costs of long-term care. The good news is that there are reasonable solutions available that offer smart ways to protect oneself and one's family and at the same time leverage retirement investments.

Long-term care insurance is a powerful financial tool worthy of serious consideration. Long Term Care Insurance can help:

  • Maintain independence and dignity without being a burden
  • Allows for patient-centered, high-quality care
  • Protect assets and avoid serious impact on lifestyle

Most plans allow participants to purchase enhancements such as built-in inflation protection, Home Care benefits and select daily amounts and benefit periods. An Asset MarketPlace advisor with the proper expertise can walk you through the process and explain LTC insurance plan options.

Contact us today for more information.