Investing in Long Term Care insurance means you and your family gain many values!
Being able to hire professional help, with the plan's special pool of funds, means family members will be free to manage your assistance; to care about you; plus help as they can. Family members also won't have to provide personal care to a parent, which is a very emotional and difficult task! Thus, this special coverage might be called "key family protection©.
How does this special protection work? The most important value received is the size of the future benefit pool. For example, if a person 55 selects a four year plan with an initial monthly benefit of $6,000 and 5% compound inflation protection and then looks forward 20 years when help might be needed their annual benefit pool would have grown to about $765,000.
Call John C Parker today at 860.739.0005 to talk about how the premium paid over a period of time is quite small in comparison to the funds available in their special pool.
You and your family gain various values when you own this special protection. It works as a wall around your income and savings and means:
- You won't use up your savings nest egg and end up poor paying for high cost professional help!
- You won't lose control and thus can select where to receive the help you need!
- You will be able to maintain as much independence as possible and thus retain your dignity.
- You can receive more help. How? Individuals with Long Term Care insurance receive an average of 14 more hours of personal assistance vs. individuals who do not have this special protection.
- You won't have to worry about the conflict, which often develops among children, over spending all the parents savings nest egg for one parent's care vs retaining it as retirement funds for the other.
This special protection is insurance so the pool of funds it creates is guaranteed. This is a much better approach than saying - I'll just apply for government care, which some say is easy to enroll in. However, do you and your family really want to lose control of where help is received and find yourself in the kind of lifestyle that comes with being on welfare? In Connecticut the only government care available when a person needs on going help is MedicAID and usually only available in certain nursing homes. More information on how government care works .
Bottom line - No one can predict what will happen tomorrow thus the saying - Life is what happens when you are making other plans really emphasizes why investing in this special kind of 'long term' health insurance is so important.
An important but little understood value is a tax deduction!
A person who purchased a tax qualified Long Term Care insurance plan may take an aged based deduction on their 2011 IRS 1040. Here are the allowable amounts and other details.
Want to Chat about how you can gain these values? I will get back to you if not available. You can also call John C Parker today at 860.739.0005.
The next page has important information on the advantages of taking action today to plan for long term care services
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.