Making Long-Term
Care Planning Part of
Your Retirement Strategy

Making Long-Term Care Planning  Part of Your Retirement Strategy

Many health-related issues play a role in the need for long-term care, from chronic illness to advanced age, accidents, strokes, Alzheimer’s disease, and/or other cognitive impairments. Without the proper plan in place, your entire portfolio and retirement income will be significantly affected. In New York, for example, a private room in a nursing home averages nearly $169,704 per year. The impact on your family could be devastating if Long-Term Care (LTC) protection is not a part of your financial and risk management solution.

One option for protecting your retirement income against the cost of LTC services is to consider a hybrid or combination product. Simply put, a Whole Life (WL) or Universal Life (UL) insurance policy with an LTC rider provides benefits to help cover long-term care expenses.

By linking the two products, a pool of benefit dollars is made available for Long-Term Care expenses, a Death Benefit for beneficiaries, or both.

Coverage Available

A LTC rider can be designed to cover the costs of the following care arrangements:

  • Nursing home: A facility that provides a full range of skilled health care, rehabilitation care, personal care and daily activities in a 24/7 setting.
  • Assisted living: A residence with apartment-style units that makes personal care and other individualized services (such as meal delivery) available when needed.
  • Home care: An agency or individual who performs services, such as bathing, grooming and help with chores and housework.
  • Care coordination: Services provided by a trained or licensed professional who assists with determining needs, locating services and arranging for care. The policy may also cover the monitoring of care providers.

Please contact us for a complimentary consultation and assessment.


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