Why Buy Long TermCare Insurance?
To protect your independence, retirement income
and your family’s well being.
What is Long TermCare?
LTC refers to assistance that a loved one with an illness or
condition needs to get through the day. The need for care is
caused by a physical or cognitive impairment. LTC is provided to
help you get the help necessary to perform the Activities of Daily
Living. ADLs include: bathing, dressing, eating, transferring,
toileting and maintaining continence.
Why it is important to consider long termcare insurance?
• You need to protect your family.
The financial consequences of care are devastating.
"Medicaid is Welfare"
• Nothing else pays for long termcare.
Medicare and health insurance is for skilled care. LTC is
unskilled custodial care.Medicaid iswelfare.Transferring assets
involves look back periods and penalties. Medicaid does not
cover most assisted living facilities or desired levels of home
• The cost of care TODAY is $100,000 per year. In thirty years
the cost will be $400,000 per year, and $1.2 million for three
years of care. (The average time care is needed is three years.)
• LTC Insurance allows for care at home, in the community,
assisted living or nursing home.
• LTC Insurance Premiums are determined by age and health.
•Waiting to buy LTC Insurance will result in higher premiums
and risk insurability.
• LTC Insurance is less expensive for younger buyers than older
buyers. Waiting will always cost more both annually and
cumulatively. The average policyholder recovers total
premiums paid in just 3-6 months of care, even after paying
premiums for 20 years!
• State and Federal Incentives make purchasing LTC Insurance
affordable. NYS offers an annual 20% tax CREDIT on all LTC
premiums. Businesses have tax deductions.
• It is likely you will need long termcare.Once age 70, there is a
70 % chance that you will need care in your lifetime.
•Take action. Eliminate the false sense of security that you have
dealt with long term care planning.
Karp Loshak Long Term Care Insurance Solutions Brokerage
Inc. are licensed independent specialists in LTC Insurance.We
educate, customize, and coordinate complex options into
straightforward solutions.We represent the leading LTC carriers:
Genworth, Guardian Berkshire, John Hancock, Hartford Life,
Lincoln Financial, MassMutual, MedAmerica, MetLife, Mutual
of Omaha,National Life, Prudential,TransAmerica, and UNUM.
For more information:
call 516.801.1419 or visit www.karploshak.com