Matt McCann, one of the country’s leading experts on long-term care planning, remembers the day when people thought he was discussing “lawn care” and not “long-term care.”
Those days are over.
An estimated 10,000 Boomers are turning 65 every day, and by 2030, the Baby Boomer generation will all reach 65 years of age. Those statistics doesn’t take into account Generation X, born between 1965 – 1979, who are in their 40s and 50s and continuing to age.
“Most of us either have first or second-hand experience with a person who needs help with everyday activities or requires supervision due to some form of dementia,” McCann said. “We see new assisted livings facilities, memory care centers, adult day care, home health agencies, and nursing homes opening everywhere. Have you prepared your family and finances for the financial costs and burdens of aging?”
Many are unaware of the Long-Term Care Insurance Partnership program, which gives the policy owner additional dollar-for-dollar asset protection. Many individuals and businesses offer tax incentives if they purchase a qualifying policy. Those with Health Savings Accounts can use the pre-tax money in the account to pay for premiums.
“You must motivate yourself to take action now before you get older and your health significantly changes,” McCann said.
Planning for your future long-term care needs is more than just protecting assets, income, lifestyle, and legacy. Planning is essential for family. Too many families juggle the needs of an older parent along with the needs of their own children and careers.
“When you think about purchasing an affordable Long-Term Care policy, really think about those you love. Without a plan, your family will be responsible for managing your care, spending your money, or evening being full or part-time caregivers. Long-Term Care Insurance is a better choice,” McCann explained
The best time to research and purchase a Long-Term Care Insurance policy is before you retire, ideally in your 40s or 50s. McCann suggests using an experienced and qualified Long-Term Care Insurance specialist to help you find the best plan and the best value.
“Most financial advisors or general insurance agents lack understanding in key areas including the benefits of the partnership program, underwriting criteria which vary with every company, policy design, and claims. A specialist can help shop and find the most affordable plan based on your age, health, family history, and other factors,” McCann said.
As a specialist, McCann assists people nationwide using his unique process where they able to view his computer screen while they speak with him on the phone. He works with all major insurance companies and can provide accurate quotes and professional recommendations.
For additional research he recommends tools available at www.ltcnews.com/resources. His website provides many resources as well. Consumers can obtain free quotes from all the top companies at www.quoteonltc.com
McCann Insurance Services: 866.751.7957: www.mccannltc.net