The insurance no one wants to deal with: Long Term Care Planning

Many of us are in the "sandwich" generation as we care for children and parents. The stresses can become overwhelming. Parents we love and care about will perhaps need more care than we can and should be able to give. Planning for this area of the financial situation is certainly better done early. But the urgency isn't there with kids needs, college payments, current living financial stress of day t day. So much can be taken care of now rather than later. There are insurance products that can guarantee the needed monthly payments if investigated early enough. Planning is the key! The costs can be contained and effectively managed if dealt with early enough.

Not only is taking care of Mom and Dad and Grandma important, but we should have an eye on our own future as well. If Mom and Dad are needing help and care, who's going to be there for us? Do we really want our kids to do the sort of things a professional home health care provider would do? An advantage of having the resources and planning to pay someone for this sort of care is that you can fire them if you don't like them. You can't fire your kids if they are your only option. Something to think about!!! Early arrangement of your affairs can take care of these concerns at little cost without loss of principle. And as we strive to be here for the long haul, we will stay with you until all your planning needs are met.

But for Mom and Dad-- It's too late to buy long term care insurance or save money.  They need care NOW!
There are  a number of annuity solutions that will guarantee income for life, with payments beginning as soon as 30 days.  Some of these annuities will pay substantial monthly benefits compared to the interest of regular investment and banking products- and because it's from an insurance comapny, the benefits are guaranteed for life-
Never run out of money.
Life Care Funding- Conversion of existing life insurance policy into an irrevocable,FDIC insured account that makes payments directly to the care giver.  The beneficiaries are in control and can change CG.  Money is excluded from the Medicaid countable assets.

True Freedom Home Care- Guaranteed issued home care program that pays friends and neighbors as well as Network Providers.

Let us help you consider all the options and help make the best choice, given your specific situation.

This information is designed to provide a general overview with regard to the subject matter covered and is not state specific. The authors, publisher and host are not providing legal, accounting or specific advice to your situation...

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