Are you a long-term warrior?
In retirement, health and wealth go hand in hand. You need a long-term care strategy that fits your future..
Understanding the True Cost of Long-Term Care
Going without a long-term care protection strategy could result in both financial and emotional ramifications. These are some of the impacts an unexpected health event could have to your pocketbook and your caregivers in retirement:
Financial
According to the Nationwide Financial¹, by 2025, the national average cost for these services is predicted to be:
$0
Assisted Livinga$0
Home Careb$0
Informal Careb$0
Nursing Homec1 Nationwide Financial. “Compare Long-term Care costs from state to state.
https://nationwidefinancialltcmap.hvsfinancial.com/
Accessed Feb. 19, 2024
ᵃBased on the costs per metro region
ᵇBased on 44 hours per week by 52 weeks
ᶜBased on average daily rates multiplied by 365 days per year
Now’s the Time for a Healthy Conversation
There’s a very real possibility you will need long-term care services during retirement. One difficult talk today could help save you and your loved ones years of heartache and financial hardship.
Did You Know Long-Term Care Can Be an Asset for More Than Just Your Health
In addition to traditional long-term care insurance options, there are several other avenues available that can offer coverage options, including fixed premiums, tax-free death benefits* and flexibility to use benefit payments however you choose.
These options include:
Asset-Based Long-Term Care Insurance — Life Insurance
Long-Term Care Riders on Insurance/Annuity Products
Chronic Illness Riders on Insurance/Annuity Products
Asset-Based Long-Term Care Insurance — Annuities
Annuity Income “Doubler” for Confinement or Home Health Care
*Life insurance death benefits are generally tax-free to a properly named beneficiary. Life insurance agents do not give tax or legal advice.
Don’t Let “What If” Become “What Now?”
It's estimated that as many as 7 in 10 Americans age 65 and older will need some type of long-term care.3 This complimentary guide can help you understand possible costs and solutions, including:
Strategies to help protect your potential caregiver from financial burden
Estimated increases in long-term care costs
The true impact of long-term care
³Barbara Marquand. NerdWallet. Jan. 13, 2022. “Long-Term Care Insurance Explained.” https://www.nerdwallet.com/blog/insurance/long-term-care-insurance/. Accessed April 10, 2023.