Do healthy individuals need a Long-Term Care Plan?

Many people over age 40 start having the conversation about aging and Long-Term Care.

Typically, this starts when an aging parent or other family member, neighbor or someone at work has an experience with needing long-term care.

Often, they are surprised at the cost of this care and the fact that neither health insurance nor Medicare will pay for most of these costs.

The time to plan for long-term care is when you are younger and healthy.

“I hear people mention that are healthy, they eat right and exercise. They ask me ‘Why do I need Long-Term Care Insurance?’” said Matt McCann, a nationally known expert on long-term care planning.

McCann says there are two points you should consider.

First, you can’t get coverage if you are already in care or expected to need care soon.

Second, the better health you have when you are middle age, the better chance you will have longevity.  Aging itself creates a need for extended care later in life.

“Premiums are based on your age, health and the amount of benefits you want at the time of application,” McCann explains. “Most of my clients make affordable Long-Term Care Insurance part of their retirement planning so they can safeguard their 401(k) IRA 403(b) from the financial costs and burdens of aging.

Long-Term Care Insurance is easy and affordable asset protection. Most states have partnership plans that provide additional asset protection. Having a Long-Term Care Insurance policy reduces the tremendous burden placed on family due to the consequences of extended care.

McCann speaks with clients on the phone as they see his computer screen from a special link from his website. This way they can learn their options, ask questions and get professional recommendations. Then he helps them shop for the best coverage at the best value so they have something specific to think about.

McCann recommends several reference websites for research:

LTC Planning News offers articles and resources: www.longtermcareplanningnews.com

US Department of Health and Human Services: www.longtermcare.gov

Free LTC Quotes: www.quoteonltc.com

McCann’s website also features several outstanding resources.

McCann Insurance Services, Darien, IL, 630-487-2480, www.mccannltc.net