Long-Term Care (LTC)

Preserving Your Savings and Dignity

As lifespans increase, so does the likelihood that individuals will need some form of long-term care as they age. This isn’t just about nursing home care; it includes assisted living, in-home care, adult daycare, and hospice care – services that help with daily activities like bathing, dressing, eating, and managing medication when you can no longer do them independently. The critical point is that these services are generally not covered by Medicare or standard health insurance, and they are incredibly expensive, often costing tens of thousands of dollars per year.

Without proper planning, the cost of long-term care can rapidly deplete life savings, erode retirement funds, and leave family members with significant emotional and financial burdens. This is where Long-Term Care Insurance becomes indispensable.

LTC insurance helps cover the costs associated with long-term care services, protecting your assets and giving you control over where and how you receive care. It ensures that your hard-earned savings remain intact for your spouse or other beneficiaries, instead of being spent down on care costs.

Key aspects of LTC insurance we help you navigate:

• Daily Benefit Amount: The maximum amount the policy will pay for care each day.
• Benefit Period: The total length of time the policy will pay benefits (e.g., 2 years, 3 years, 5 years, or lifetime).
• Elimination Period: A deductible period, often 30, 60, or 90 days, during which you must pay for care out of pocket before the policy begins to pay.
• Inflation Protection: An optional but highly recommended feature that increases your daily benefit over time to keep pace with rising care costs.
• Types of Care Covered: Policies typically cover a wide range of services, from skilled nursing facilities to home health aides.

As a CLTC (Certified in Long-Term Care) specialist, Bob Greenberg has dedicated expertise in this complex area. He understands the nuances of different policies, the various triggers for benefits, and the strategies for incorporating LTC into your overall financial and estate plan. Our goal is to empower you to make informed decisions that protect your financial legacy and ensure you receive the quality care you deserve, maintaining your dignity and independence for as long as possible. We help you explore options, including traditional standalone LTC policies, hybrid policies that combine life insurance with an LTC rider, or annuities with LTC benefits, to find the solution that best fits your financial situation and future goals.

By proactively addressing the risks of disability and the potential need for long-term care, you’re not just buying insurance; you’re investing in your financial security and the well-being of your family. Let Bob Greenberg – CLTC Insurance Services be your partner in building a robust protection plan that truly covers life’s unexpected turns.