Long-Term Care Insurance

No retirement plan is complete without a plan for paying long-term care expenses.

By not allocating some of your retirement portfolio for long-term care insurance, you have allocated ALL
of it.

The odds you will need some form of long-term care in your lifetime is 70%.

A long-term care insurance policy can reimburse some of all of your expenses when you have met one of
the following criteria:

1. You suffer a cognitive disorder (such as Alzheimer’s or Dementia)
2. You need assistance with at least two of the following six Activities of Daily Living:

• Bathing
•  Dressing
•  Continence
• Eating
• Toileting
•  Transferring (getting our of bed, chair, car, etc.)
  
  This assistance, ranging from simple custodial care to full nursing care, can either be at home or in a
  facility.

Health Insurance will not pay long-term care expenses.
Medicare will not pay long-term care expenses.
MediCal (or Medicaid) will pay if your total assets = less than $2,000

To determine the current cost of care in your area, visit:

https://www.genworth.com/corporate/about-genworth/industry-expertise/cost-of-care.html

For the best rates and plans, long-term care insurance is best purchased during one’s 40’s or 50’s.
While the best way of transferring the risk to a insurance company is through an individual long-term care
policy, valuable benefits can also be obtained through the following “linked” products.

•  Life Insurance with LTCI rider
•  Annuity with LTCI rider
  

Visit A Shopper’s Guide to Long-Term Care Insurance for more information.

https://www.ltcfeds.com/epAssets/documents/NAIC_Shoppers_Guide.pdf