Long-Term Care Insurance Can Be Cheaper than Do-It-Yourself Caregiving

Oct. 22, 2011 - PRLog -- STORY CONTACT:
Kurt Lauman
of LTC Financial Partners
Long Term Care Insurance Specialist
kurt.lauman@ltcfp.net
(425) 216-4909
www.kurtlauman.ltcfp.com

Long-Term Care Insurance Can Be Cheaper than Do-It-Yourself Caregiving, Kirkland-Based Agent Advises!

If one of your aging parents suddenly needs help with the tasks of daily living, who will provide it?  You – Loved One?  “If that’s your default long term care plan,” says Kurt Lauman, Kirkland-based agent with LTC Financial Partners, LLC. (LTCFP), “be prepared for sticker shock!  Your LTC services don’t come free emotionally or financially.”

Do-it-yourself LTC caregiving can be very expensive emotionally and financially, Lauman asserts. “In fact long-term care insurance, even with premium payments extending over 30 years, can be much cheaper.”  This assertion is based on a recent report published by the MetLife Mature Market Institute, “The MetLife Study of Caregiving Costs to Working Caregivers: Double Jeopardy for Baby Boomers Caring for Their Parents.” For America’s 10 million employed caregivers, lifetime losses in pay, pensions, and social security benefits total an estimated $3 trillion, according to the study. That amounts to $304,000 per worker.  “It will cost you a fraction of that for long term care insurance, so you have the money to pay a professional to care for your parent or loved one,” says Lauman.

The numbers:
1) A good LTCi policy costs just hundreds to thousands of dollars per year depending on the covered person’s age, health, and benefit features desired.

2) That’s far less than the $304,000 lifetime-earnings hit even if premiums are paid for 30 years or more.
Of course, there’s a chance that none of your parents (typically four per couple), will ever need long-term care. But don’t count on it. According to the U.S. Department of Health and Human Services, at least 74% of Americans over 65 will need long-term care at some point and people start to develop signs of aging at the age of 45.  “People often reject long-term care insurance because they think it’s expensive or they say I will get around to it, just not today” says Lauman. “But the opposite is true.  It’s one of biggest bargains around but the key is to plan ahead and know all your Long Term Care options before it is too late.”  If you don’t plan ahead you are planning to fail.  To start planning contact Kurt Lauman a Long Term Care Insurance specialist with LTC Financial Partners, considered to be the most experienced and trusted Independent Long Term Care Insurance Agencies in America.

You have found one of the single best sources of information on long term care insurance.  We are a licensed independent insurance agency that specializes in Long Term Care Insurance.  Our mission is to provide you with excellent service, helpful advice and useful resources nationwide. Find out more about Long Term Care insurance from Kurt Lauman a Long Term Care Insurance Specialist & Partner with LTC Financial Partners, LLC. (LTCFP) *Be sure to visit for FREE Online Long Term Care Insurance Quotes from the nations “Top” LTC Insurance Carriers & Official LTCI eGuide!

Estimate by LTCFP Based on Recent Survey by MetLife Mature Market Institute

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