Long Term Care with a Better Price.

We’ve partnered with to deliver affordable long term care meant to protect your beneficiaries from financial hardship.

What is Long-Term Care?

Long term care encompasses a range of services and supports aimed at assisting individuals with long-term personal care requirements. Long-term care may require non-skilled personal care support, such as aid with washing, clothing, toileting, transferring (to or from bed or chair), incontinence care, and feeding.
Long term care services may help you maintain your independence and capacity to operate during a period when you are unable to do so completely.

Where does Long-Term Care take place?

Individuals with long-term care requirements are often assisted at home or in community-based settings prior to being placed in more intensive care facilities. This may imply that you may remain at home and remain a vital member of your family.

How are you going to recoup the costs of care?

You may decide to pay for long term care services on your own, only to discover that your funds will cover just a portion of the cost. You may want to obtain assistance through health insurance or government programs such as Medicare or Medicaid. Typically, standard health insurance policies do not cover long term care. Medicare usually covers long-term care as part of a rehabilitation program or skilled nursing facility. Medicaid coverage is contingent upon meeting certain eligibility criteria, which include severe income and asset limitations.

Median National Costs*

Should you make long-term care insurance a priority? Think, and ask yourself…

  • Do you agree that you might live a long life and that if you do, you run the risk of developing chronic illness or cognitive impairment?
  • Do you believe that if you become chronically ill or cognitively challenged, the care you require may have an adverse effect on the emotional, physical, and financial well-being of those who will give that care (your loved ones)?
  • Are you of the opinion that having a written plan in place for paying for care is essential for protecting your family and finances?
Long-term care (custodial care) is required as a result of physical and cognitive deficits associated with aging. Custodial care is non-medical assistance with basic daily living functions such as bathing, clothing, and toileting. These disabilities may necessitate home or facility-based care.

Consequences vs Risks

Certain individuals believe they will not require long-term care and hence do not view it as a risk to their well-being. Rather of viewing long term care as a danger, consider it in terms of the possible repercussions for your family. You may not require care, but if you do, the ramifications for your family and portfolio might be severe.

Family repercussions

Family members may be required to step up and temporarily suspend their lives in order to give care. Caring for another person may be emotionally and physically taxing.

The portfolio's consequences

Paying for care has an impact on the portfolio that was never set aside for that purpose. A portion of your retirement income may need to be set aside to cover care costs. Utilizing portfolio assets to pay for care may have portfolio repercussions. Each dollar spent on care consumes an additional dollar that may be used to produce revenue in the future.

Long-Term Care planning

By planning for long-term care in advance, you may remain secure at home while also preserving your family’s mental and physical well-being. This enables those you care about to oversee rather than provide care. Care may also be delivered at a skilled nursing facility or assisted living facility if necessary.
Long term care planning can help safeguard the retirement portfolio and the assets used to produce that income. A plan can assist you in ensuring that your financial and retirement objectives go as planned.

Why now is the time to plan?

Now is the moment, while you are still healthy, to consider and plan for the unforeseen events that may occur in life.
AMG Insurance Company is devoted to assisting you in planning for the future and protecting your family today and in the days ahead. Anyone, at any time, may find themselves in need of long-term care. You, your spouse or partner, a parent, or even a sibling might all be affected.

By Kevin Nolan

As a licensed insurance agent and editor, Kevin is responsible for researching and writing about all matters related to insurance. He has over ten years of experience in insurance and financial planning. His history involves working with State Farm , and other mutual companies.

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