Should I consider long term care insurance?

The short answer is: Yes

Most of us think of Long Term Care insurance as nursing home insurance. While its primary function is to offset the huge expense of long term care facilities, not everyone in those facilities is elderly. In fact, nearly one-third of all nursing home residents are under age 50. Most are there due to accidents or illnesses that require rehabilitation services and/or continual care from someone other than a family member.

Another important reason to consider Long Term Care insurance is to defray the crippling expenses associated with nursing home care later in life. Many of us have experienced the declining health of a loved one, or heard stories of other friends and family who have spent most, or all, of their retirement savings trying to pay for nursing home expenses for their loved ones.

You are eligible for long term care coverage through UnumProvident.  You can also purchase coverage for your spouse, children, parents, grandparents and siblings. Unum’s Long Term Care (LTC) insurance allows you to maintain choice and control over your life, should you find yourself or a loved one needing long term care due to illness or accident.

Long Term Care Benefits Include:

• Protecting your assets and savings in the event you need long term care
• Employee, spouse, children, parents, grandparents and siblings, between the ages of 18-80 are eligible.
• Home care can be provided by a family member or friend.
• It is portable should you leave BAPTIST HEALTH.
• Premiums are based on age at time of purchase and are level.

Whether you want to consider Long Term Care insurance for yourself, your spouse, or another member of your family – contact your Hagan Newkirk financial advisor for a no-obligation appointment to consider your options and costs.