Insurance has always been one of the ways to help guard against risk. Most of us have life insurance, homeowners insurance and automobile insurance.
But one area often overlooked is Long-Term Care insurance. Maybe it’s because our lives are so different from previous generations, making Long-Term Care a somewhat modern risk, one our grandparents did not have to assume.
You may be aware of Long-Term Care if you have had to help your parents, grandparents or other relatives confront this need. But, did you ever ask yourself, “who is going to take care of me?”
By the year 2020, half of the U.S. population (157 million) will have at least one chronic condition and some 81 million will be living with multiple conditions. By 2030, health care spending will increase by 25% simply because the population will be older, and this is before inflation or new technologies are taken into account.
Long-Term Care is the largest unfunded liability in the United States.* We simply cannot choose to ignore the fact that Long-Term Care is a serious concern. For most of us, there is a looming long-term crisis ahead—unless we act now.
Most states offer asset protection with Partnership. The Partnership is a State-Approved Dollar-For-Dollar Asset Protection; a way to qualify for Medicaid without spending your life’s savings. Get a quote and start the process to protect your assets, and your family.
(*Molly Butler Hart, “A Market Dawns for Long-Term Care Coverage.”
IA Magazine.com, April 2002, p. 1.)