What you gain by owning Long Term Care insurance:

  • Peace of mind knowing you won't become a burden on family. They will be free to manage the professionals providing your assistance, help as they can, plus care about you.
  • Having funds to hire assistance at home means you can be as independent as possible. Thus, you retain your dignity.
  • Children won't have to help a parent with personal functions such as using the toilet! This would be very difficult and emotional for them.
  • Conflict won't develop between sons/daughters, over spending all their parent's saving nest egg for one vs retaining funds for the other.

How does this special insurance I like to call

"Key Family Protection"© work?

 

How does this special kind of insurance work?

You gain access to a guaranteed pool of funds, which can grow to be significant.

       For example: A Single person age 55 selects a plan with an initial Benefit Amount of $7,000 a month; a Benefit Period of three years; and adds a 5% compound inflation option. When they are say age 82, the annual Benefit pool would have grown from $84,000 in the first year to $940,831.

When a change of health happens professional care giving counselors can meet with you and your family at no cost to discuss assistance options and develop a plan for the kind of help you need. These counselors are not insurance company employees nor connected to any service provider you may decide to use.


Call John C Parker today - 860.739.0005 - We can discuss your interests and what is best called "long term health insurance" can mean for you.

What about government coverage?

The government coverage, which pays for long term services is MedicAID (welfare). The question to think about - will the level of state and federal funding MedicAID receives today be available in the future since it's not guaranteed?

  • Some people think it will so they plan to wait and apply if needed.
  • Many don't want to live in the kind of lifestyle, which comes when receiving MedicAID. They believe their dignity would be lost.

Note: In Connecticut long term services are usually only available in nursing home and may be just at certain ones, because of very low MedicAID reimbursement rates. More information on how government care works.

Some points about the cost of a plan:

 

  • The amount you pay is based on your age the date you apply, your health situation at that time, and a big factor - the amount of benefits you select.
  • Many say Long Term Care insurance is expensive but what ever you pay is not expensive in comparison to the significant funds needed to pay for services yourself.
  • The cost vs risk of your home or auto insurance, which we all readily buy, is much lower than the cost/risk of long term health insurance!  

An important but little understood value - owning insurance has a positive affect on taxes!

The money received in benefits from your plan is tax free! On the other hand dollars withdrawn from your investments to pay for help yourself are taxable!

The IRS allows a person, who purchased a tax qualified Long Term Care insurance plan, a partial deduction. It is taken when completing the IRS 1040 and the amount is based on your age. Here are the allowable amounts and other details.

Call John C Parker today at 860.739.0005 to talk. I will get back to you if not available.

Some of the advantages of taking action today to plan for long term care services are on the next page.

John C Parker, has achieved professional designations as a Long Term Care Insurance professional and a Registered Health Underwriter. John is licensed to conduct business in CT (644135) and RI (1058420) and does not solicit or sell in other states.

This site shares insights from extensive involvement in professional associations, industry conferences, working with leading Long Term Care Insurance organizations, and individual research. These pages do not advocate a specific company or plan.

 

Insightful advice - no cost to you.

John C. Parker

John’s commitment to helping individuals prepare, in the most economical way, for needing help with day to day activities is rooted in parents needing long term services.

Call Now for a Free Consultation [860.739.0005]

 

Free Little Book

The ABC's of Long Term Care Insurance

Connecticut residents - send a note to receive a copy of this useful little book written by Phyllis Shelton. It can help determine if Long Term Care insurance is right for you and your family.

eMail John for a free copy »

Call John today - (860) 739-0005 - we can visit; answer questions; and there will be no pressure. The meeting is free too.