Long Term Care Planning
As the oldest Baby Boomers begin to wind through their 70s, one of the biggest concerns may not be outliving income, but outliving good health.
– If something unforeseen happens to you, what steps have you taken to protect your family?
As the oldest baby boomers begin to wind through their 70s, one of the biggest concerns may not be outliving income, but outliving good health.
At-home care services average $20 per hour and assisted living facility costs average $3,628 per month.1 Does your retirement income strategy account for this kind of possibility? Would you be prepared for twice that amount as a married couple?
Considering that you could have to reduce your financial means before Medicaid will pay for long-term care and neither your employer group health insurance nor major medical insurance will cover long-term care, you may want to consider planning ahead for these potential expenses.
Long-term care insurance helps replace a major portion of your income when you are injured or unable to work. The right long-term care plan is a very important element of your total protection portfolio. We have the means to find you affordable long-term care protection to cover these needs. Contact Mark Gardner today at 214-762-2327 or MarkGardner@RetireWellDallas.com to discuss your long-term care needs.
Genworth Financial. April 2016. “Genworth 2016 Cost of Care Survey.” Accessed Aug. 31, 2016.
In addition to long-term care policies, RetireWellDallas Group can secure other strategies to protect you against the consequences of personal injury. Many people think their home is the biggest asset they own. At RetireWellDallas Group we believe your biggest asset is your ability to work and earn an income. For most of us, paying the mortgage and other bills would be nearly impossible if we couldn’t work due to a disabling illness or injury. That’s where we can help. Disability insurance helps replace a major portion of your income when you are sick or injured and unable to work, and for this reason, many people think of it as “paycheck protection.” Disability insurance, along with life insurance can offer the protection you need to ensure that your family doesn’t lose their home or other valuable assets if the unthinkable happens.
Either as a stand-alone policy, or as an add on to your life insurance policy, RetireWellDallas Group can assist you in this valuable coverage, most of the time requiring no physical exam to qualify. Today, many households rely on two incomes to pay the mortgage and all of the household bills. Without a solid disability plan, your family could be at a significant risk.
Disability Insurance is for people who:
- Need paycheck protection or income replacement
- Would like a paid for mortgage in the event your income stops due to disabling injury or illness
- Need to supplement or replace a plan or coverage offered by your employer
- Are looking for competitive, affordable premiums, often without the hassle of a physical exam
- Understand that an illness or accident will keep 1 in 5 workers out of work for at least a year before the age of 65
Contact Mark S. Gardner