Marty Seigel
Long Term Care Specialist
Advocare LTC
Advisors
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| Contact Us: |
| Phone:
954-349-7585 |
| Email Us |
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Our long term
care knowledge stems from our years of experience helping families
coordinate care in South Florida.
Let our practical experience help you choose the right policy. |
| Visit our Care
Management Division: |
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Long
Term Care Insurance - A Smart Investment
Why is long term care
insurance a smart investment? Why not just self insure for
long term care needs? The same reason that most people don't
self insure their homes & autos: It's smarter to pay
an affordable premium over time than to face reasonable odds of a large
unaffordable future expense.
You have three options to pay for your long term care:
- Self
- "I have enough assets that I can sell if I need to."
- Others -
"The kids will take care of me, Uncle Sam will help."
- Buy long
term Care insurance
The reason
that most wealthy people do not self insure is that, even though they
can afford to pay the cost of long term care, they recognize the
financial sense of paying a small premium now to transfer a
large future risk to an insurance company. Doing nothing is self
insuring - risking expenses that could deplete a lifetime of savings
and investments.
Most people do not want to rely on others or burden their kids with the
financial and emotional strain of their care. What about
government support? As our baby boomer generation ages, the
percent of people over 65 will grow from 12% in 2005 to 18% in 2025 - a
50% increase in 20 years*. Lower birth rates mean
a declining portion of the population will provide the tax base to
support this explosive growth. Federal and State governments,
recognizing this, are taking drastic steps now to reduce benefits and
make each of us accountable for planning for our future care needs.
A Small Price for Peace of Mind
As our current generation cares for our parents, we realize the
peace of mind that comes from financial planning for our own care.
We cannot predict the type of care we will need, but we can
take the small step of putting funding in place today in the form of
long term care insurance. Buying long term care insurance is
a small price for tremendous peace of mind.
*Source:The 2005 Annual Report of the Board of Trustees of the Federal
Old-Age and Survivors Insurance and Disability Insurance Trust Funds,
Washington, D.C., March 23, 2005
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