Plan ahead for long-term care costs
Are you prepared for the possibility that sometime in the future, you or a loved one might require help to manage your daily needs?
Major life events like surgery or illness, or a severe cognitive impairment like Alzheimer’s, could mean you or your loved one require long-term care. Maybe you would prefer to have care and treatment in your own home, or you want to take the pressure off your family to care for you.
The high cost of care can become a financial burden. Long-term care insurance is one way to stay abreast of those costs, while providing the best care for you or your loved one.
How long-term care insurance works
Long-term care insurance provides a daily tax-free benefit to help cover the costs of home or facility care, in the event you or your loved one experience a cognitive impairment or become unable to perform essential daily activities such as bathing, dressing, eating or more.
- Insurance plans provide a daily benefit for a specified period, that starts after a pre-defined waiting period
- The longer the waiting period chosen for the benefit, the less expensive the premium
- Other features such as return of premium and inflation protection are available
Is long-term care insurance a good solution for you? Contact your Richardson Wealth Advisor today to learn more.