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Home » Asset Protection » You May Not Be Able to Afford Long Term Care without Insurance

You May Not Be Able to Afford Long Term Care without Insurance

August 8, 2011Asset Protection, Incapacity Planning, Insurance

Many people don’t realize how expensive long-term care costs are.  As more people continue to age, the costs only continue to rise. This is why it’s important to consider the purchase of long-term care insurance.  Without this insurance, long-term care can be unaffordable.  Take a look at the information below, to better understand the use of this insurance.  If you have any questions, or if you need help selecting a long-term care insurance policy, contact an estate planning attorney.

Consider All Future Expenses

It’s important to have a plan in place for all of your future needs.  This includes preparing an estate plan that protects you and your loved ones throughout lifetime.  It’s also important to consider long-term care so that you’re not left to deal with costly care bills.

Long-term Care Can Cost $120,000 Per Year

Depending on the care that is needed, your care bills could be extremely high, over $120,000 a year.  This means that all of your money may go to these bills, making it impossible to live a normal, healthy, and comfortable life. Not planning for your long-term care needs may mean that you’re putting yourself in financial danger.

Long-term Care Doesn’t Mean Nursing Home Care

With long-term care needs, a variety of care services are covered.  This may include nursing home care, at-home care, rehabilitation services, and more.  There are a variety of policies to choose from so that all of your needs are met. It’s important to think ahead when choosing a policy, so that you’re always prepared.

Consult with a Qualified Estate Planning Attorney

Don’t put off this important aspect of planning.  Make sure that you have the financial means to pay for all of your future long-term care needs.  This will allow you to live a better life and get the help that is needed.  If you have any questions, or if you need help selecting the best long-term care insurance policy, consult with a qualified estate planning attorney.

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Michael Robinson, Estate Planning Attorney
Michael Robinson, Estate Planning Attorney
Clients notice Michael Robinson’s unique approach to his estate planning practice the minute they walk through his office doors.
Michael Robinson, Estate Planning Attorney
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