Financial Focus Have You Planned for Long-term Care? If you are fortunate, you will retain your physica and mental capacities throughout your life and can always live independently. But there are no guarantees for any of us. If you ever require some However, you would need to accumulate an extremely Life insurance with long-term care/chronic illness rider - By choosing a permanent life insurance policy with this rider, you can accelerate all or part of the death benefit to pay for long-term care costs. (Your death large sum to fully protect yourself, and you'd be diverting assets that could be used to help fund your Long-term care insurance A traditional long-term care (LTC) insurance policy will pay for qualified long-term care costs. The younger you are when you benefit will then be reduced.) This option generally a hybrid policy, which may require a larger dollar form of long-term care, will you be prepared? So what is the risk of needing longterm care services? provides more flexibility in paying premiums than commitment. Similar to hybnd, you still have the life According to the Department of Halth& Human Services, about 40% ofindividuals over age 65 receive purchase your policy, some form of paid in-home care, with an average care are likely to be. Keep in mind, though, that a basic period lasting less than one year. However, about one-third of the population receives care in a nursing home: Of those individuals, about half stay less than one year, 30% stay between one and three years, and 20% stay longer than five years. the lower your annual premiums insurance benefit if you dont need care. LTC policy offers no death benefit or cash value your premiums are only paying for a nursing home Which option is best for you? Theres no one "right answer for everyone, but a financial professional can help you choose the method that's most appropriate for your situation. And from an economic standpoint and possibly an emotional one, too- you may be better off by taking action sooner, rather than later. say, home health care or other type of longterm care he service. (Also, even a good LTC policy will include a waiting period before the insurance kicks in and a maximum amount of coverage, such as three years.) And, unfortunately, this care can be expensive. For example, it costs $97,500 per year, on average HybridMinked benefit insurance Because of some for a private room in a nursing home, according to the 2017 Cost of Care Survey produced by Genort an insurance company. In some major metropolitan reas, the cost is much higher. Furthermore, Medicare m care coverage. You can accelerate the death typically pays only a small percentage of these expen concerns about paying for insurance but never needing type of insurance provides a death benefit plus long benefit to help pay for long-term care costs, a This article was written by Edward Jones for use by you r care with traditional long-term care insurance, this local Edward Jones Financial Advisdn Edward Jones is a licensed insurance producer in all Jones nd you states and Washington, D.C., through Edward D. Massachusetts through Edward Jones Insurance Agency of can also choose to create an additional pool for these & Co., LP, and in California, New Mexico and So, how do you protect yourself against th costs after the death benefit has been exhausted. But fyou dont need long-term care, you still have the life potentially catastrophic costs? Essentially, you have insurance death benefit. Due to the death benefit, your California, LLC: Edward Jones Insurance Agency of New Sel-insure- You can try to build enough financial premiums will be higher than those of a traditional Mexico, LLC, and Edward Jones Insurance Agency of assets to cover the costs of a long-term care event. long-term care policy. Massachusetts, LLC. Edward Jones Sean P. Asiala AAMS Edward Jones Pam Covington CFPM AAMS Tod Heisler AAMS Edward Jones Edward Jones Edward Jones Michael C.Caley AAMS Quinn Nofziger Gwen Rup 7030 Pointe Invemess Way, 4413 oi Rd Ste E Fort Wayne, IN 46814 1 Chestut Hi Parkway Fort WayneIN 46814 110 Bhon Rd Ste 101 Fort Wayne, IN 46809 Fort Wayne. IN 46804 Fort Wayne, IN 46804 478-8038 Fort WeynE, IN 5804 Fort Wine, IN 46834 747-5411 625-5700 Making Sense of InwestingMaking Sense of lnvesting Making Sense of InvestingMaking Sense of InvestingMaking Sense of Investing Making Sense of westingMaking Sense od Investing Making Sense of Financial Focus Have You Planned for Long-term Care? If you are fortunate, you will retain your physica and mental capacities throughout your life and can always live independently. But there are no guarantees for any of us. If you ever require some However, you would need to accumulate an extremely Life insurance with long-term care/chronic illness rider - By choosing a permanent life insurance policy with this rider, you can accelerate all or part of the death benefit to pay for long-term care costs. (Your death large sum to fully protect yourself, and you'd be diverting assets that could be used to help fund your Long-term care insurance A traditional long-term care (LTC) insurance policy will pay for qualified long-term care costs. The younger you are when you benefit will then be reduced.) This option generally a hybrid policy, which may require a larger dollar form of long-term care, will you be prepared? So what is the risk of needing longterm care services? provides more flexibility in paying premiums than commitment . Similar to hybnd , you still have the life According to the Department of Halth& Human Services , about 40 % ofindividuals over age 65 receive purchase your policy , some form of paid in-home care, with an average care are likely to be. Keep in mind, though, that a basic period lasting less than one year. However, about one-third of the population receives care in a nursing home: Of those individuals, about half stay less than one year , 30 % stay between one and three years , and 20 % stay longer than five years . the lower your annual premiums insurance benefit if you dont need care. LTC policy offers no death benefit or cash value your premiums are only paying for a nursing home Which option is best for you? Theres no one "right answer for everyone, but a financial professional can help you choose the method that's most appropriate for your situation. And from an economic standpoint and possibly an emotional one, too- you may be better off by taking action sooner, rather than later. say, home health care or other type of longterm care he service . ( Also , even a good LTC policy will include a waiting period before the insurance kicks in and a maximum amount of coverage, such as three years.) And, unfortunately, this care can be expensive. For example, it costs $97,500 per year, on average HybridMinked benefit insurance Because of some for a private room in a nursing home, according to the 2017 Cost of Care Survey produced by Genort an insurance company. In some major metropolitan reas, the cost is much higher. Furthermore, Medicare m care coverage. You can accelerate the death typically pays only a small percentage of these expen concerns about paying for insurance but never needing type of insurance provides a death benefit plus long benefit to help pay for long-term care costs, a This article was written by Edward Jones for use by you r care with traditional long-term care insurance, this local Edward Jones Financial Advisdn Edward Jones is a licensed insurance producer in all Jones nd you states and Washington, D.C., through Edward D. Massachusetts through Edward Jones Insurance Agency of can also choose to create an additional pool for these & Co., LP, and in California, New Mexico and So, how do you protect yourself against th costs after the death benefit has been exhausted. But fyou dont need long-term care, you still have the life potentially catastrophic costs? Essentially, you have insurance death benefit. Due to the death benefit, your California, LLC: Edward Jones Insurance Agency of New Sel-insure- You can try to build enough financial premiums will be higher than those of a traditional Mexico, LLC, and Edward Jones Insurance Agency of assets to cover the costs of a long-term care event. long-term care policy. Massachusetts, LLC. Edward Jones Sean P. 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