| TN Insurance-Long Term Care Insurance |
In TN The Chance of Needing Long Term Care Is More Than Two In Five. Long Term Care Expenses-Out of Pocket, Welfare, or Long Term Care Insurance. |
| Helping you prepare for the unthinkable - Long-Term Care. |
An estimated 12.1 million Americans need assistance from others to carry out everday activities.
Source: The Henry J. Kaiser Foundation, Long-Term Care: Medicaid's Role and Challenges (publication #2172), Washington, D.C. Let's look at estimated costs over an extended period of time (based on the MetLife survey) . . .
You want long term care insurance that's more than just nursing home insurance.
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We all insure our homes against fire and our cars, trucks, boats and campers against an accident . . . and for some reason we never complain about that money being wasted. Why do we sometimes hesitate insuring against the most expensive reality of life . . . long term care ? Is Long Term Care Insurance Right for You ? You should NOT buy long term care insurance if you have limited assets and can't afford to pay the premiums for the rest of your life. You should NOT buy long term care insurance if you live on a limited fixed income, such as Social Security or Supplemental Security Income (SSI). You should CONSIDER buying long term care insurance, if . . . You have signigicant assets and income and want to protect those assets. You do not want to be dependent on the government or someone else. You want to pay for your own care. Average Annual Long Term Care Costs in the Nashville, TN area *
* "The MetLife Market Survey of Nursing Home and Home Care Costs", The MetLife Mature Market Institute, September 2005. * *Home Health Care costs are based on 5 hours per visit and 5 visits per week.
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We're not going to tell you that you may need long term care insurance. Hopefully, you've done some research and reached that conclusion by yourself.
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To better understand long term care, think about the activities you performed when you woke up this morning . . . You probably . . .
But what if you couldn't perform these basic activities of daily living (ADL) without assistance ?
The ideal time to buy long term care insurance is NOT when you're in your 60's, but actually when you're in your late 40's or early 50's, why ? Premium costs are lower Less likely to have a pre-existing condition that would disqualify you. Sometimes in our society, we are just unwilling to recognize these expensive facts of life.
Some people say that they will just sefl-fund their long term care, but what is the reality of that logic ? Assumptions: (1) Age 61 (2) Total cost of care in today's dollars: $ 192,000 (3) Years until care is needed - 7 (4) Monthly Savings - $250 (5) Rate of Return on Savings - 3%
* Based on a 5% yearly compounded inflation rate. Why not pass the costs of long term care to someone else ?
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AUTO-HOME-LIFE-HEALTH-BUSINESS INSURANCE IN TN CITIES |
Carlton Group Insurance Services, Inc (the Company) is authorized to solicit and transact business on behalf of MetLife® Bank in the state of Tennessee. The Company is currently licensed by the Tennessee Department of Commerce and Insurance to solicit and take applications for life insurance; health insurance; annuities; and property and casualty insurance in the entire state of Tennessee. |
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