McMahon and Associates, Ltd.
PO Box 806
Bloomfield Hills, MI 48303-0806
E-mail: info@buyltcinsurancenow.info
Phone: (248) 844-9787
Every
woman should understand some important facts about long-term
care. Long-term Care is care you require when you are unable
to care for yourself. There may come a time when you will
need help with bathing, dressing, eating, toileting, continence,
or transferring. Or, care that is necessary if you are diagnosed
with a cognitive impairment such as Alzheimer's disease.
Long-Term Care can be required due to mental
illness, injury, or disability. Forty-three percept of those
individuals requiring long-term support services today are
under age 65.
The annual average cost of care in Michigan
today is $74,000 in a facility and upwards of this amount
for care in the home for a 24 hour period of time. The costs
increase 5% each year. Is this an expense you or your family
can afford?
Most of our clients are surprised to learn
that long-term support services are not covered by their
healthy or disability insurance. Medicare may be available
for those over age 65 but it will only pay for a limited
amount of care following a hospital stay. If you need health
care for an extended period of time, chances are you will
pay for the care from your savings or retirement income.
Long-Term Care insurance is a contract that
guarantees to pay for a sudden, unexpected, large continuing
expense that would seriously deplete or exhaust financial
resources. It is not limited to nursing home care for the
elderly. Long-Term Care insurance is actually designed and
may be the only successful tool we have to keep us OUT of
a nursing home when we need care for an extended period
of time.
Savvy women today, even those with significant
assets now consider owning some Long-Term Care insurance.
It allows your loved ones and family members to care about
you, not for you, and if they do, it will allow them to
care for you better and longer.
If you consider Long-Term Care insurance protection,
here are some things to remember:
You must apply while you are in reasonably good health.
Policies that provide benefits for a limited period (three
or four years) are more affordable.
Insurance policy discounts available can save you quite
a bit of money each year.
Long-Term Care insurance will never be less
expensive than it is today!
Dorothy McMahon is a Certified Long-Term
Care Insurance Specialist and a Certified Senior Advisor.
She is the president of McMahon and Associates, Ltd. And
can be reached at 248-844-9787. www.buyltcinsurancenow.info
