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If you live a long a long life, there may come a point in time where you will need assistance with living. You can have a say in who will provide that assistance and where it will be provided if you have a plan.  Relying on family and friends can put undo stress on those relationships creating, emotional, physical and financial burdens that can be avoided.  Just as you have planned for life's other trap doors with life insurance or disability insurance, having a plan that includes Long Term Care Insurance can provide peace of mind in retirement.   

How will you pay for long term care? The sad fact is that most people don’t know the answer to that question. But a solution is available.

The cost of assisted living or nursing home care alone could motivate you to pay for an LTC policy. Can you imagine spending an extra $40-90K out of your retirement savings in a year? What if you had to do it for more than one year? How would caring for you effect the lives of your spouse or children? 

The Medicare misconception. Too many people think Medicare will pick up the cost of long term care. Medicare is not long term care insurance. Medicare will only pay for the first 100 days of nursing home care, and only if 1) you are getting skilled care and 2) you go into the nursing home right after a hospital stay of at least 3 days. Medicare also covers limited home visits for skilled care, and some hospice services for the terminally ill. That’s all.1

How it works. Your premium payments buy you access to a large pool of money which can be used to pay for long term care costs. By paying for LTC out of that pool of money, you can help to preserve your retirement savings & income.  A healthy 50 year old couple paying a joint premium of $4552 a year could create a benefit pool of over $1,000,000 by the time they reach 80.2

What it pays for. Some people think LTC coverage only pays for nursing home care. It can actually pay for a variety of nursing, social, and rehabilitative services at home and away from home.  For example, it can fund care in your home, care in a group living facility, adult daycare or care in a nursing home.3  You decide how and where you would like to be cared for and put your loved ones in a position to supervise your care verses provide it.

Why procrastinate? The earlier you opt for LTC coverage, the cheaper the premiums and the more likely you will qualify for coverage. This is why many people purchase Long Term Care Insurance in their 40’s & 50’s. Those in poor health or over the age of 70 are frequently ineligible for coverage.

Why Corto Financial?  At the Corto Financial Group we have a Certified Long Term Care Specialist on staff who can assist you in  structuring a plan that will meet your individual needs.

  • Custom Plan Design.
  • Maximize eligible discounts  up to 30% for couples applying together.
  • Quotes from all the major providers to insure the best pricing.
  • Shared Benefit Riders.
  • State partnership programs  protect assets from Medicade.
  • Benefits are Tax Free.
  • Potential tax deductions for premiums.

Give us a call or send us an email to learn more.


1 - [6/17/14]

2. Mutual of Omaha quote 1/21/16 , 50 year old couple joint , Shared care Rider & 3% COLA

3 - [6/17/14]

This  information consolidated from material was prepared by MarketingPro, Inc