Long Term Care Insurance
First it's a good idea to tell you what Long Term Care Insurance (LTC) is about and how it works.
Long Term Care is the medical and/or social services term for helping people who develop disabilities or chronic care needs? For example if you or a family member needs help walking, getting dressed, eating or bathing.
The services provided may be brief with full recovery, or they can be ongoing for years. The services are provided in the home, a residential facility, nursing or assisted living or in the community.
Long Term Care Insurance pays for the services needed, so you don’t have to. Policies vary in terms of what they will cover and insurance companies do require that applicants qualify for the coverage.
A good LTC policy delivers broad and flexible benefits that provide the services when needed.
Reasons for purchasing LTC:
* Relieve the burden on the loved ones
* Make certain they have a choice of quality care
* They maintain their independence
* Avoid Medicaid
* Protect assets
* Proactively make decisions that protect their family and themselves
Having Long Term Care Insurance could save your retirement dollars.
If you have any questions or would like a free quote contact us at:
lynn.tomaro@comcast.net
A caring and smart financial decision-
Life insurance is unique among financial instruments. It is one of, if not the only financial instrument that is based on caring and love. Even though there can be personal advantages to having life insurance, the real driving force for this decision is the love for those we care about the most and to make sure they are taken care of when we die. So, applaud yourself for taking the time to learn about this subject and please follow up with action. By delaying can be more costly than necessary.
Interestingly, while one is taking care of the financial needs and wants of your loved ones or the next generations, life insurance can also develop and build one’s personal financial goals while living. For example, because you have sufficient life insurance, you might be able to use more of your assets to enjoy life in retirement. Why is that? Because if you know you have sufficient life insurance you won’t feel that you are lowering the inheritance by spending some of your principal. You may actually “pay down principal” to some degree to yourself, especially if you have lifetime permanent life insurance as a backup.
There are various types of life insurance but they all have some common attributes. You pay an insurance company what are called premiums. At your death, the life insurance company pays an amount to the people you named in your policy, called beneficiaries. When did you last review you current policy to make sure the beneficiaries are current, has there been a divorce, new partner, death, or other lifestyle changes?
Also a note of important interest, your beneficiaries will receive the insurance face amount free of income tax.Can you image your beneficiaries’ reaction when they receive the check from the insurance agent, knowing that you took the time to make sure they would be taken care of for that just in case.
You have paid it forward!
Some types of life insurance have cash benefits available while you’re living. In these types, a portion of your premium goes into a cash reserve and builds on a tax deferred basis. You can access this money, called cash value. Some people use it to help education costs, enhance retirement cash flow or for any reason. Two of the most common types of “permanent life insurance” are called whole life insurance and universal life insurance.
Combined with investments, retirement and estate planning, a life insurance policy is a cornerstone of a sound financial plan. By looking into this area, you are making an intelligent and caring financial decision for your family. It is important that you have life insurance and have enough to protect those you care about. Make it a goal to review your current life insurance or get the coverage you need, it is easy and painless. Planning is the essential smart tool for a sound future.
Take Action E-mail me or Use the Call Me Button on this Blog!
Life insurance is unique among financial instruments. It is one of, if not the only financial instrument that is based on caring and love. Even though there can be personal advantages to having life insurance, the real driving force for this decision is the love for those we care about the most and to make sure they are taken care of when we die. So, applaud yourself for taking the time to learn about this subject and please follow up with action. By delaying can be more costly than necessary.
Interestingly, while one is taking care of the financial needs and wants of your loved ones or the next generations, life insurance can also develop and build one’s personal financial goals while living. For example, because you have sufficient life insurance, you might be able to use more of your assets to enjoy life in retirement. Why is that? Because if you know you have sufficient life insurance you won’t feel that you are lowering the inheritance by spending some of your principal. You may actually “pay down principal” to some degree to yourself, especially if you have lifetime permanent life insurance as a backup.
There are various types of life insurance but they all have some common attributes. You pay an insurance company what are called premiums. At your death, the life insurance company pays an amount to the people you named in your policy, called beneficiaries. When did you last review you current policy to make sure the beneficiaries are current, has there been a divorce, new partner, death, or other lifestyle changes?
Also a note of important interest, your beneficiaries will receive the insurance face amount free of income tax.Can you image your beneficiaries’ reaction when they receive the check from the insurance agent, knowing that you took the time to make sure they would be taken care of for that just in case.
You have paid it forward!
Some types of life insurance have cash benefits available while you’re living. In these types, a portion of your premium goes into a cash reserve and builds on a tax deferred basis. You can access this money, called cash value. Some people use it to help education costs, enhance retirement cash flow or for any reason. Two of the most common types of “permanent life insurance” are called whole life insurance and universal life insurance.
Combined with investments, retirement and estate planning, a life insurance policy is a cornerstone of a sound financial plan. By looking into this area, you are making an intelligent and caring financial decision for your family. It is important that you have life insurance and have enough to protect those you care about. Make it a goal to review your current life insurance or get the coverage you need, it is easy and painless. Planning is the essential smart tool for a sound future.
Take Action E-mail me or Use the Call Me Button on this Blog!
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