Long-Term Care Partnership Insurance
At least 7 out of 10 people, age 65 or older, will need
some form of Long-Term health care in their lifetime
lasting longer than 90 days...
Are YOU prepared?
Or will your family get BURIED with debt?
If you are married, either you or your spouse will likely need long term medical care. (Maybe BOTH of you!) Such care at TODAY's costs is likely to exceed $45,000 to $85,000 per year! (In some areas of the USA, these costs are even higher!) How much money do YOU have saved up? Can you afford such care for 3 years? For 5 years? For 10 years? And that's assuming the costs of such care do NOT go up???
(If you truly believe these costs will not go up... I have some GREAT buys on land in the Everglades for you....) (-;
The government DOES have a way to "help" you meet these costs. All it requires of you is:
1) Sell off ALL your assets
2) Spend ALL your life's savings
3) Cash in ALL your "cash value" life insurance policies
>>(I have a way to meet their requirements WITHOUT cashing in!)
4) THEN you have to SPEND EVERY DIME until you have LESS than $2,000 in assets!! (In some states, they allow you to keep $3,000)
So... how does "Long Term Care Partnership" insurance help? If you purchase a qualified policy, you may be able to protect your personal assets up to your policy limit if you expend your policy limit for Long Term Care before applying for Medicaid.
Example:
John and Sharon bought Long Term Care Partnership policies. Each policy was worth $150,000. At age 79, John had to be placed in hospice care. The doctors expected him to live only maybe another 9 to 12 months. John's care was first picked up by his Medicare and Supplemental insurances for awhile... but they soon ran out, and his Long Term Care Partnership insurance kicked in... His expenses were running about $8,000 the first few months, then they started to climb... His monthly expenses eventually exceeded $10,000/month!
John lived long enough to use up all $150,000 of his policy and died a month later. Since he had Long Term Care Partnership insurance, Medicaid picked up what wasn't paid for. After John died, Medicaid left John's family with $152,000 in assets that they didn't take to pay back the Medicaid expenses. In fact, the net result was the family only got stuck with a funeral expense. The funeral expense was paid for out of John's life insurance and the balance was left to his widow and his adult children. They were taken care of because John and Sharon took care of their needs BEFORE they HAD needs.
Isn't it be nice to not have to worry that all your life's efforts to build up assets to pass along to your children will end up passing to the State instead?
Protect them today! Tomorrow is NEVER promised to us.
(If you truly believe these costs will not go up... I have some GREAT buys on land in the Everglades for you....) (-;
The government DOES have a way to "help" you meet these costs. All it requires of you is:
1) Sell off ALL your assets
2) Spend ALL your life's savings
3) Cash in ALL your "cash value" life insurance policies
>>(I have a way to meet their requirements WITHOUT cashing in!)
4) THEN you have to SPEND EVERY DIME until you have LESS than $2,000 in assets!! (In some states, they allow you to keep $3,000)
So... how does "Long Term Care Partnership" insurance help? If you purchase a qualified policy, you may be able to protect your personal assets up to your policy limit if you expend your policy limit for Long Term Care before applying for Medicaid.
Example:
John and Sharon bought Long Term Care Partnership policies. Each policy was worth $150,000. At age 79, John had to be placed in hospice care. The doctors expected him to live only maybe another 9 to 12 months. John's care was first picked up by his Medicare and Supplemental insurances for awhile... but they soon ran out, and his Long Term Care Partnership insurance kicked in... His expenses were running about $8,000 the first few months, then they started to climb... His monthly expenses eventually exceeded $10,000/month!
John lived long enough to use up all $150,000 of his policy and died a month later. Since he had Long Term Care Partnership insurance, Medicaid picked up what wasn't paid for. After John died, Medicaid left John's family with $152,000 in assets that they didn't take to pay back the Medicaid expenses. In fact, the net result was the family only got stuck with a funeral expense. The funeral expense was paid for out of John's life insurance and the balance was left to his widow and his adult children. They were taken care of because John and Sharon took care of their needs BEFORE they HAD needs.
Isn't it be nice to not have to worry that all your life's efforts to build up assets to pass along to your children will end up passing to the State instead?
Protect them today! Tomorrow is NEVER promised to us.
Contact me (Oliver Clement) for assistance
and with any questions you may have at:
Office - 262-898-9591 Cell - 262-902-5714
P.O. Box 453, Somers, WI 53171
Oliver.Clement@OMCInsuranceAgency.com
(Serving all of Wisconsin and Illinois!)
and with any questions you may have at:
Office - 262-898-9591 Cell - 262-902-5714
P.O. Box 453, Somers, WI 53171
Oliver.Clement@OMCInsuranceAgency.com
(Serving all of Wisconsin and Illinois!)