Dear Valued Customer,

This issue of “—————-” is focused upon the financial protection long-term disability income insurance can provide for you and your family.

A serious illness or injury can harm more than your health…it can have an impact on your ability to work and meet your family’s living expenses.

LTC disability income insurance can help you pay living expenses while you are unable to work. Read on for some tips on planning and paying for long-term disability insurance, but don’t wait to formulate a long-term plan for you or other family members. Please contact us for a private discussion to review your next best steps.

We appreciate your continued business and look forward to serving you.

Kind regards,

In the 2000, almost 10 million people needed some form of long-term care in the United States. Of this population, 3.6 million (37%) were under age 65 and 6 million (63%) were over age 65 (Roger & Komisar, 2003). Almost 70% of people turning age 65 will need long-term care at some point in their lives. This section of the website provides basic information so you can begin to think about how you will handle the need for long-term care. Your path will be unique to you, and based on your preferences and circumstances. Let’s look at the basic questions covered in this section:

• What is long-term care?
• Who needs care?
• How much care will you need?
• Who will provide your care?
• Where can you receive care?
• Who pays for long-term care?

Many people think the phrase “long-term care” refers to an insurance policy. While insurance may be part of your strategy, long-term care encompasses everything from long-term services and supports and finances, to where you will live and how you will navigate the myriad of legal, family, and social dynamics along the way.

Source: U.S. Department of Health and Human Services, “The Basics” http://longtermcare.gov website. Accessed November 30, 2015. http://longtermcare.gov/the-basics/

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.

Just as there are many kinds of long-term care services and supports, so is there a wide range of costs for them. And while some people may qualify for a public program to help pay for these expenses, most people use a variety of options, including long-term care insurance, personal income and savings, life insurance, annuities and reverse mortgages to ensure they can pay for the care they require.  As our population ages, new financial products are offering yet more options.

Source: U.S. Department of Health and Human Services, “Costs & How To Pay” http://longtermcare.gov website. Accessed November 30, 2015. http://longtermcare.gov/savings-calculator/

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.

If you have a long-term care insurance policy, the buyer pays a pre-set premium. The policy then pays for the services you need, when you need them (up to its coverage limits). On occasion, if the assumptions used to price the policy prove wrong, the insurance company can increase your premiums beyond the pre-set amount. Typically, you are not expected to pay premiums while you receive long-term care.

The cost of a long-term care policy varies greatly based on:

• Your age at the time of purchase
• The policy type
• The coverage you select

In 2007, the average long-term care insurance policy:

• Cost about $2,207/year
• Covered 4.8 years of benefits, excluding the 20 percent of people who elected lifetime coverage
• Had a daily benefit amount of $160
• Was a comprehensive policy covering both facility and at-home care
• Included some form of automatic inflation protection

Go to this page to work out your savings: http://longtermcare.gov/savings-calculator/

Source: U.S. Department of Health and Human Services, “Long Term Health Insurance Costs” http://longtermcare.gov website. Accessed November 30, 2015. http://longtermcare.gov/costs-how-to-pay/what-is-long-term-care-insurance/long-term-care-insurance-costs/

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.