Preparing for Tomorrow:

“Making A Case for Long-Term Care Insurance”

Presented By

GrosJean & Associates, Inc.

By now, you are probably familiar with the concept of Long-Term Care Insurance.  With the recent flourish of media attention on the subject, it would be difficult to ignore this important issue among seniors.  In fact, you may have already considered protecting your assets from the cost of long-term disability caused by sudden accidents, chronic illness or the effects of just growing older.  If not, this may be the perfect time to make the most important decision you have ever made about turning the tide for yourself, your spouse, your children and grandchildren!

 If you are age 65 or under, Long-Term Care Insurance is eminently affordable.  If you are over 65 years of age, the premiums grow progressively higher, but so too the value of those assets that determine insurance affordability.   And, it is precisely those assets accumulated over a lifetime that Long-Term Care Insurance serves to protect.  The tide that will have turned is the tide that could have otherwise swept those assets far out to sea, into an ocean of catastrophic cost due to the disabilities associated with just growing older.  And, it is not only the protection of assets, but the preservation of choice and quality of care that Long-Term Care Insurance provides!

 In America today, 67% of all people age 65 and over will need some form of Long-Term Care, whether at home or within a facility.  What does all this mean?  For a married couple, it means there is a 100% chance - a statistical a given - that one spouse will require Long-Term Care services during the course of a lifetime, while the other spouse will stand a 33% chance – that’s one chance out of three - that health problems will trigger a need for benefits, a significant percentage in itself!

 Currently, a single room at a nicely appointed Nursing Facility will cost the consumer an average of $120 to $150 per day, or $35,000 to $45,000 per year.  For the average couple, this translates to a cost approaching one-half million dollars for a five-year stay.  Many of us have seen relatives or friends spend twice that amount of time in Long-Term Care.  Tragically, just one or two years of nursing home care would bankrupt the majority of Americans.  And, for those who could afford to chip in a little more, such expenditure might well represent a sizable chunk of that nest egg intended for spouses, children and grandchildren.  Yet, Long-Term Care premiums are but a tiny fraction of the cost of care!  Dollar for dollar, Long-Term Care Insurance is one of the best buys in the insurance industry.  For a 65 year-old in reasonably good health, Long-Term Care premiums can cost less than $1500 a year, or $125 a month, about what you would spend at a nice restaurant for a family of four!   The same coverage would cost half that amount or considerably less for people in their forties or fifties.  Given figures in this range, the cost-to-benefit ratio for Long-Term Care Insurance is simply phenomenal!

 Nobody enjoys thinking about going into a Nursing Home.  Happily, Long-Term Care Insurance provides comfortable alternatives to confinement in a facility should disability strike.  Most popular among those alternatives is care given in the privacy and comfort of your own home.  But, Medicare and Medicaid do not cover supervisory or maintenance care within the home.  Neither does private Health Insurance.  Without Long-Term Care Insurance, or the ability [and willingness] to pay out-of-pocket, who will be responsible for financing or providing that care?   Your spouse, your children, your grandchildren?

 Consider these typical responses made by average Americans when asked about the possibility of someday needing Long-Term Care…

 “I just refuse to ever go into a Nursing Home!”

(Do you intend to stay at home?)

 “I won’t be a burden on my spouse or children!”

(Who will provide for your care?)

“I intend to leave my children a nest-egg for their future!”

(Will that nest-egg payroll your caregivers?)

Long-Term Care Insurance can provide the means to fulfill all three wishes, but time is running out!  As the senior population ages and more disabling illnesses are reported, the claims will start rapidly pouring in.  The time to decide is now, while affordable pricing is still available.  Take advantage of your current age and lock in those rates, because Long-Term Care premiums are “age-scaled” and health conditions tend to accumulate as time goes by, effecting underwriting and, subsequently, cost.  There are still surprising bargains available in the Long-Term Care arena for people of all ages and income levels, but this is bound to change as new products are introduced - at higher cost.

 There is no better time to make the soundest decision of your life concerning the preservation of your assets and the passing of those assets to your spouse, children and grandchildren.  Take the opportunity to see just how easily a Long-Term Care plan can be tailored to fit your individual needs and budget.  Call now and set up an appointment to discuss how Long-Term Care Insurance can fit into the vision you hold for your financial security.  You will be pleasantly surprised to discover that Long-Term Care Insurance can provide the finishing touches in securing the future for you and your family!