"Begin with the end in mind."
From Steven Covey's "Seven Habits of Highly Effective People"
Should we plan or delay?
By 50, fully half of us will need extended care before we're gone. Who will pay for that?
Our own premiums, or those for people we love, will never be lower.
Who do you love?
Think about it: You don't buy extended care insurance (or life insurance) to protect yourself, you buy it to protect your spouse, children, your whole family. And it can protect an estate.
Several of today's best plans pay for care provided at home by family, friends, or spouse (when approved by the insured's own physician). Most of us would prefer to stay home as long as reasonable.
Single premium plans are similar to annuities or "whole life" insurance policies, usually offering money-back guarantees. Some pay 3 to 5 times that single premium for care, should it be needed...and if the insured passes away without having needed the policy's care benefits it will return the entire original premium. Compare to your investments.
What about IRAs or 401(k)s? You may want to transfer some of that to LTC and lock in rates (no premium increases!).
Certain new LTC policies may perfect for Special Needs situations. We'll be happy to get together with you and your attorney.
What about your parents, siblings, adult children, or friends? 505 503-9385.
We may be able to save you a lot of money: As Independent Brokers we aren't required to favor the most expensive plans.