Planning for a future successful retirement can be challenging with so many different elements involved.
You might have a financial planner who is helping you invest today so you have ample income once you retire.
Generally, your financial planner will diversify your holdings and get more conservative as you get older. One large area that often gets ignored or poorly planned is the impact long-term care costs will have on your family, savings, income, and lifestyle.
“The financial costs and burdens of aging will have a dramatic effect on you and your family. Most financial advisors and general insurance agents really don’t compute this very well, and have little understanding of the dramatic impact a long-term care event will have on your loved ones,” said Matt McCann, a nationally known expert on long-term care planning.
McCann says often a consumer will only get a Long-Term Care Insurance illustration or a few quotes.
“Getting a few quotes or an illustration is not preparing your family and finances for the impact of longevity. This requires a specialist to ask you sometimes difficult questions about how you envision future care, how much you want your family involved, and the amount of income and assets you wish to be protected. This way, an affordable plan can be designed specifically for you, which is always much less expensive as well,” McCann said.
He suggests starting your online research by discovering the current and future cost of care services in your area. A good resource for this is the LTC NEWS cost of care calculator which can be found at: https://www.ltcnews.com/resources/states.
“When you work with a specialist like me, the plan is custom designed based on your needs and concerns. I understand how these plans get used at the time of claim so I don’t recommend more benefits than what you need based on your specific situation. This gives you the chance to take charge of your future retirement,” McCann added.
Licensed in every state, McCann represents the major insurance companies so he can find the best coverage at the best value. He says Long-Term Care Insurance is very affordable, especially if purchased before you retire. He uses a unique approach where a consumer can talk with him on the phone while they view his computer screen on their own computer. This is an easy and pressure-free way to get educated and see your various options as you shop for an affordable LTC policy. Since insurance rates are regulated you need to find the right plan that matches your health and budget. He recommends these reference websites for research:
LTC News offers news and resources. Start with resources: www.ltcnews.com/resources
US Department of Health and Human Services official long-term care site: https://longtermcare.acl.gov
Free Long-Term Care Insurance Quotes: www.takechargeltc.com
McCann’s website also features numerous resource information, so you can learn more about long-term care planning.
“The idea is to make getting older easier on those you love,” McCann explained.
McCann Insurance Services: 866.751.7957: www.mccannltc.net