Life Insurance and Long Term Care Planning
Life insurance was once viewed simply as a means of risk management to protect against financial loss in the event of a person’s death. Today, it’s an important part of an overall strategic financial plan. Too often, life insurance is left out of the financial planning picture. Many households have no insurance at all, or, if they do, it may not be enough to adequately address their financial objectives.
Long Term Care Insurance
Long-term care (LTC) goes beyond medical care to include all the assistance you could need if you ever have a chronic illness or disability that leaves you unable to care for yourself for an extended period of time (longer than 90 days).
While older people generally require the most long-term care services, a young or middle-aged person who has suffered a debilitating illness or accident may also require care.
You may require long-term care due to:
- Complications with diabetes
- Other chronic conditions
Needing long-term care puts an enormous emotional and physical strain on your loved ones and family members. By planning ahead, you can help reduce this burden. It’s important to start planning now while you have the most options. Schedule an appointment today with a wealth advisor from First National Wealth Management to start the conversation.
*This content is intended to assist in educating you about insurance generally and not to provide personal service. It may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. Guarantees are based on the claims paying ability of the issuing company. Long-term care insurance policies contain exclusions and limitations. Eligibility for long-term care insurance, additional policy benefits and qualification for benefits is determined on a case-by-case basis. For costs and complete details of coverage, please contact your financial advisor.