LTC 101 Defining Long-Term Care

I will attempt to clear up the confusion about Long-Term Care insurance.  Having been involved with not only product sales but the education of  insurance Agents since 1994, my perspective is unique.

Long-Term Care is needed when due to: accident, illness, frailty or loss of cognitive ability creates the need of human assistance to remain  independent.   This care can be provided at home, in the community or in a facility.  Long Term Care insurance (LTCi) provides the funds to pay for care.  This is a very personal subject,which involves the family and  making choices that will determine the quality, affordability and availability of care.

Although thought to be  a senior insurance product,  care can be required at any age.  Long Term Care insurance must be obtained  before you require assistance.  My first lesson was: " Money just pays for it.  Health buys it."

Golf taught me that "over analysis lead to paralysis".   There are numerous options to help  fund your long-term care needs: saving, life insurance. annuities, depending on spouse and/or children, reverse mortgage or just do nothing and pray.  With so many choices do not fail to plan.  
7/19/12 SchugTheLTCGuy.com