Why Long-Term Care Insurance? (Video)

24 Oct Why Long-Term Care Insurance? (Video)

Posted at 13:16h in Long-Term Care Insurance by
2 Likes

The Basics of Long-Term Care Insurance

You’ve worked hard, you’ve got a great life to show for it and you’ve set aside money for your retirement, but sometimes life happens, you get in an accident or develop an illness that makes it impossible for you to care for yourself for an extended period of time. And then what? Who would take care of you? And how would you pay for that care?

Wouldn’t you like to know?

You can, with long-term care insurance. Having long-term care insurance means that you can get the high-quality care you need in the setting of your choice, maintain your independence, and relieve the financial and care giving burdens from your family.

Most people don’t realize that there’s a 70% chance you will need some type of long-term care after 65 and it can be expensive. A home health aide costs around $20 per hour, that’s like hiring a full-time employee at $42,000 a year. And a private nursing home can range from $80,000 to $100,000 a year.

Unfortunately, many people think their health insurance or a Government program will pay for that but for the most part that’s just not true. Health insurance typically just pays for doctor and hospital bills. Medicare only covers short-term skilled nursing home care and Medicaid only pays for your care if your assets are very limited. That means you’ll most likely be paying for care from your savings or your retirement fund and that can go fast.

Avoid this with long-term care insurance, which can help protect your retirement nest egg and don’t put it off. A good time to purchase long-term care insurance is when you’re in your forties or fifties when premiums are affordable and your health is good. You may be able to buy long-term care insurance through your employer, an association or membership group or because everyone’s needs are different, you can sit down with an agent to ensure you get the plan that works best for your needs and budget.

Want to learn more about the many benefits of Long-Term Care Insurance and find a plan that’s right for you? Contact Us

Tags:
, ,


Subscribe to our Newsletter!

Stay updated with QQIS! Sign up to our official newsletter.

envelope
envelope




×
Marty Shull

Executive Managing Director

 

Marty offers over 15 years of experience in direct-to-consumer and business-to-business sales with a specific focus on corporate buy sell review, business exit planning, valuation, and strategies as well as personal estate protection and succession planning. As a Co-Founder, Marty has developed a distribution platform with an objective of creating and maintaining relationships with insurance agents, investment advisors, accountants, attorneys, and all other financial professionals. As he has been involved in the brokerage platform for the last fifteen years, Marty has learned the necessary tools, traits, and processes to be a successful broker in this arena and to help others succeed. Marty earned his undergraduate degree from San Diego State University with an emphasis on business management and finance. A Bay Area native, Marty currently resides in San Francisco with his wife and son.

×
Brendan Walsh

Co-Founder

 

Brendan brings over two decades of experience in life insurance, retirement and estate planning. He spent 13 years at Northwestern Mutual where he was consistently a member of the Million Dollar Round Table and the Northwestern Forum. Brendan received his undergraduate degree from University of San Francisco. He was a former President of the Irish Cultural Center and sat on the board of the Juvenile Diabetes Research Fund. Brendan lives in Marin and has two children, Sophia and Aidan.

×
Greg Yu

Co-Founder

 

Greg brings about two decades of experience in the insurance industry. His career started at Northwestern Mutual where he became a key contributor to his team’s continual qualification to the Million Dollar Round Table and the Northwestern Forum. Greg’s current role at QQIS includes the duties of acting CFO. Greg has an undergraduate degree from California State University, Chico and holds a Life and Property Casualty license. He lives in Marin with his wife, Jennifer and son, Nicholas.

×