Why Buy

Let's shoot straight here. The cost Long Term Care Insurance is expensive. It is a serious decision and most likely one of the most significant financial decisions you will make in your life.

Over the years through talking with clients and their families I have found out the deep reasons that people purchase Long Term Care Insurance. The surface reason is "to protect the estate" but the deeper reasons transcend "the estate" and go to the heart of what families are really about. This is why I believe so passionately in Long Term Care Insurance and Estate Planning. A proactive approach saves money and that's important but more importantly good planning saves families. Without further adieu the reasons why?

Protect Assets Your Assets
Long Term Care Insurance protects assets from the over $80,000 per year http://www.nyspltc.org/rates.htm drain a long term care stay puts on the budget. With the average stay of 2.3 years the simple financial risk to an individual can easily exceed $184,000. Stays for mental debilitation like Alzheimer's disease, dementia, stroke, or Parkinson's could be much longer.

Protect Your Stay At Home Spouse
The stay at home spouse often takes the brunt of the finical hard ship. With a spend down in process to fund a long term care stay the spouse at home experiences the loss of lifestyle.

Protect the Level of & Quality of Your Care
When Long Term Care Insurance gives you the ability to pay for your long term care stay you get to chose where you want to stay. This gives people the ability to choose a facility near your home with all the amenities you want. Some facilities are like mini college campuses with clubs, activities, and all kinds of resources. Long Term Care Insurance gives you choice and options.

Protect Your Relatives From Being Over Extended
Normally families will try to take care of their own. This puts all kinds of strain both physical and mental on the family. If still married one spouse would try and take care of the other. A lot of times its hard for an elderly spouse physically help their husband or wife get in and out of a tub etc. By default and son or daughter would then be asked to give help. This has caused a "sandwich" generation. Typically the senior daughter picks up the responsibility. Which in most cases provides a scenario where she has to divide time between her children, her profession, and now her parents. This is why 80% of all care givers are clinically depressed and physically drained.

Protect Your Ability To Stay in Your Own Home
Long Term Care Insurance may be the very thing that allows you to be able to stay in your own home. Remember you can get a policy that pays for home care so you can stay right where you are most comfortable.