Long term care insurance
Of course everyone wants to live out the last days of your life as comfortably as possible and with as much dignity as possible. Long term care insurance can help prepare you for the significant financial obligations that may occur. Whether you prefer home health care or living in a nursing home, preparation can reduce the expense and burden of long-term care on your loved ones. Long-term care insurance or L.T.C. as it also commonly referred to is insurance coverage that will pay for your assisted living, nursing home care or home healthcare in the event you are unable to care for yourself because of a chronic condition or disability.
What many people don't initially know about long term care is that it comes in many plans and varieties.
Strategic planning now can potentially allow you to more than double the amount of savings you currently have now or get it all back with interest if it were not to be used towards a long term care policy.
The new types of policies available for Long Term Care when used with a sound financial plan can significantly optimize your savings in most circumstances. These circumstances vary greatly from state to state but can be a significant boost to your assets if used or not. There are far to many different variables to explain here with these policies and obtaining coverage. The best steps to take would be scheduling an appointment with one of the long term care experts here at The 401k Man.
We have multiple carriers, plans and solutions available including some that could potentially multiply your asset value three, four or five times if the proper planning is implemented early enough.
One little additional tip here if you are considering a long term care policy explore it thoroughly by asking if the policy has a non-contingent forfeiture clause or rider. Non contingent forfeiture allows you to keep the policy active and not lose it if you became unable to keep the premiums paid. Unlike auto or home insurance when you stop paying it becomes obsolete, certain types of insurance will keep a monetary value (typically what you have agreed to with the insurer as paid up insurance) available to you.
Now these plans vary greatly by carrier and company but this is where calling upon the experts at The 401K Man will pay off greatly for you in the long term planning arena. Call us at 877-775-0812 to request more information from our experts.