Katie O’ Rourke
Managing Partner

Long Term Care Facts Don’t Lie … Could This One Mistake Cost You Your Retirement Savings?

You’ve worked hard all your life and now it is time to retire. You’ve got your expenses figured out and it looks like you can finally stop working and live off interest, savings, social security, and maybe even a pension. You might even choose to work a fun part time job to stay in the mix and enjoy life a bit.

Then it happens… An unforeseen health event takes place like cancer, stroke, heart disease, or some other debilitating event.

 Luckily, you got insurance to help cover most of the medical bills, but you find out it will not be enough because this event is going to require a long-term care treatment plan that normal insurance or Medicare does not cover.

 And when 70% of those over the age of 65 will need long term care in their lifetime, you wonder why you didn’t take care of this sooner. Sure, you’ve probably heard the concept of long term care insurance, but like most other people you didn’t believe you would need it, or you simply didn’t get the right information about it.

 Did you know that 79% of the people purchasing Long Term Care policies are between ages 45-64, but only 9% of baby boomers have planned for their Long Term Care needs? When someone is unprepared for the time, cost, and emotional commitment required of family to have to take care of you, retirement doesn’t look as fun as you thought.

 And because only 9% of boomers even planned for this, 67% of the people who plan to have a loved one provide care have not asked the loved one to take care of them when the need arises. This is going to create stress among the family no matter what because most long-term care events are not a quick 30-day recovery period, they can last for 5 to 10 years, or longer in some cases. And, when long term care costs can run between $2,000 to $8,000+ per month, this can wipe out most retirement accounts efficiently.

 We know the thought of having to buy another insurance policy does not sound like a fun thing to do. But, you have so many options you may not even be aware of right now. For example, if you are in the 30% of people that enjoy health during retirement, you might be eligible for a return of premium plan where if you do not use it, you get your money back.

 Regardless of return of premium options, the fact is 99% of buyers keep their policy for the rest of their life because they know the peace of mind it provides when the unexpected happens.

 We know you want to have a fulfilling retirement full of joy and love, we also know that you do not want to become a burden or cause any strain on those that care about you most.

 That is why you can get all the facts about long-term care today when you speak to our highly trained staff and learn about what options are available to you now.

 Contact us today and get the facts about long-term care planning for retirement and you.