For those of you that have taken the time to select this tab, you have most likely experienced a grandparent, mother, father, or other loved one that has needed long-term care. The reality is that one out of two individuals that read this column will need the service themselves.
Long-term care has the potential of creating the largest negative financial impact on your retirement and financial legacy. Because of traditional medicine, our senior population is living much longer than ever expected. Here’s an interesting fact: Have you ever wondered why social security retirement age was originally set at age 65? Because in 1935, life expectancy was 58 for men and 62 for women. Most actuaries indicate today that an individual 65 years old and in good general health has a life expectancy of 19.3 additional years. This is a fascinating fact that needs to be discussed with your spouse and family.
Because Senior Care Solutions believes that education is the only way in making a sound decision, we don’t leap to the conclusion that everyone needs a Long-Term Care insurance policy. Because we value planning, we do find it necessary to discuss what plan you will have in place to alleviate the financial impact that many seniors experience.
Here are your options:
As a reminder, our goal is not to get you into a product, but instead to make you aware of the cost that could be accrued through negligence. This conversation is to prepare you and your family for what 1 out of 2 retirees will find as a reality. Our company is here to help you plan for the inevitable.