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Long-term care insurance is not for everyone

Posted by Matt Dean | Jan 20, 2015 3:45:00 PM
Nest_Egg
   Source: Flickr user American Advisors Group

If you don’t have a lot of assets to protect, then you just don’t need long-term care insurance. After all, simply put, it’s a tool to protect your assets. So, what’s “a lot” of assets? Well, I think that depends on the value you place on what you have accumulated.

A single man with $100,000 may not feel the need to protect his money, whereas a couple with the same amount may think long and hard about protecting the same $100,000.

The fear of dying too soon has been replaced with the inevitable reality of outliving your money!

What if one of them needs care and spends down that nest egg?  Obviously that leaves the healthy one financially unhealthy!  So, if you are 70 or 80 years old, with no additional money saved, how do you start over?

The need for long-term care services as we age is real. Making an educated decision about long-term care planning is a must, even if you choose not to buy long-term care insurance.

If you are concerned about protecting your assets, talk to a professional who specializes in long-term care planning.

Topics: Educational Content for Consumers

Written by Matt Dean

Matt Dean, Vice President, MarketPlace Group (MPG), joined LTCI Partners in June 2011. He is responsible for the structure, implementation, and management of sales initiatives. He leads a national sales force of salaried insurance specialists who, through a virtual kitchen-table conversation, provide needs-based advice and guidance to help consumers plan for the financial consequences of a long term care event. Matt brings 24 years of insurance experience at USAA, where he was responsible for a number of health insurance product lines. Matt is a graduate of the University of Texas at San Antonio with a BBA in Finance, is a licensed life and health insurance agent, and holds various professional designations. He and his wife are active in the Prader-Willi Syndrome (PWS) Association on behalf of their son, Tanner, who has PWS.

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