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Simplifying the process of understanding Long Term Care, and helping you decide if Long Term Care insurance is right for you.

Posted by LTC Staff
LTC Staff
Staff writers for LTC.com
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on Tuesday, 18 November 2014
in LTC Insurance

Do Your Homework: The First Step to Long Term Care Planning

 

Long Term Care Planning can be complicated and time consuming. With so many options available and so many decisions to make, one of the biggest challenges is knowing where to begin. Our advice is to start planning now so you can feel comfortable about your future. Here are a few first steps to consider before you make any decisions.

 

Decide where you will most likely retire. The cost of Long Term Care services varies dramatically across the country. So, knowing where you will live during retirement will help you determine how much coverage you will need to buy.

 

Give us a call at 800-432-0091 and one of our Long Term Care specialist will tell you the cost of care in your area. If you can’t decide between two locations, plan for the more expensive area. Purchasing additional coverage when you are older will be costly, especially if your health has declined.


Calculate your savings, pensions, and other income. Determine your income from all sources as of today and especially during retirement. These figures will be very important to the planning process. They will help you decide how much you can afford to pay out-of-pocket for Long Term Care and how much you will want your LTC insurance to cover. They will also help you determine an appropriate waiting period or Elimination Period. By addressing these issues, you will be able to design an appropriate plan at an affordable premium level for today and when you retire.


If you would like to speak with someone about the cost of care in your area or if you would like to receive a quote for Long Term Care coverage, please contact us at 1-800-432-0091 or fill out our online submission form for a free rate comparison.

 

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