Long Term Healthcare Insurance
One of the fastest growing issues facing individuals today is the need to plan for long term healthcare. Long term healthcare is the assistance received when someone needs help with two or more “Activities of Daily Living,” such as dressing, bathing, going to the bathroom, eating or moving about, or someone who suffers a severe cognitive impairment. This could be provided in the home, in an assisted living or residential care facility, or in a skilled nursing facility such as a nursing home.
Most people do not think about long term healthcare until it affects someone close to you. If you have cared for an aging parent or close relative, a husband or wife, or a child who has had a debilitating injury or illness, you probably realize the implications of providing and needing this type of care. Even if you have not had a first hand experience, you can appreciate the financial implications if you do not prepare. Even the most conscientious person saving for retirement would feel the affects. That is because without long term care insurance, prolonged expenses can add up – quickly. Individuals and families usually bear the weight of this financial burden because health insurance does not cover expenses related to long term care. Government funding falls short as well with only limited financial support coming from Medicare. And although Medicare covers approximately half of the nation’s nursing home expenses, you must first deplete the vast majority of your assets to qualify. (Source: UnumProvident LTC-127 brochure, 3-03)
Not all of us like to contemplate needing this type of care, but failing to plan could put what you have worked for in jeopardy. Long term care insurance can help preserve your independence, giving you options to choose the course of care that benefits you and your family most.
Long term healthcare insurance provides you with a choice of how and where you will receive care. Like most people today, you want to receive quality care that lets you maintain your dignity and self-worth. For most of us, that means staying home for as long as possible and having the flexibility to choose the care options that work best for your and your family. Long term healthcare insurance gives you the option to do just that.
To find out more about long term healthcare insurance, please contact our Certified Financial Planner (CFP®): John V. Lyons, Infinex Investment Executive, 508-234-8112 Ext. 1009, or Email.
This website is for informational purposes and nothing on this website constitutes an offer to purchase or sell securities.
For more information about a particular non-deposit investment product, ask for a prospectus. Please read it carefully prior to investing.
Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. UniVest Financial Services is a trade name of UniBank. Infinex and UniBank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.
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