FINANCIAL MISTAKE: Ignoring the risk of a potential a long term care need could jeopardize your financial well being during retirement!
The largest financial risk to your retirement may be the possibility of you or you spouse needing long term care.
Long term care expenses are those associated with needing assistance with your activities of daily living. Care could be received in the home, an assisted living facility, an adult day care center, or a nursing home. Medicare and private insurance is not designed to take care of this risk. Long term care costs can be enormous. Some facts to consider:
♦ The chances of a long term care claim costing you over $100,000 is 1 in 1.5*
♦ 70% of people over 65 will need long term care**
♦ 20% of us will need care for over 5 years (female an avg. of 3.7 years and men an average of 2.2 years)**
♦ In 2013, the average cost of nursing home care in Memphis, TN is $72,453/year ($6,037 per month)***
♦ Future long term care costs could cost you hundreds of thousands of dollars
Protect your retirement from devastating long term care costs!
Click here to discuss long term care options with a Future Benefits Agent
Or call us at 901-754-2040
*The Wall Street Journal smart Money May 2008
**The Federal Long Term Care Insurance Program Website, www.LTCFEDS.com (2009)
*** Genworth 2013 Cost of Care Long Term Care Survey
See our Professional Disclaimer
Future Benefits Insurance & Retirement Planning was created on the principles of helping people like you receive guidance you can trust and products that can lead you to your financial goals.
At Future Benefits Insurance & Retirement Planning we believe that relationships can only thrive when values match.
Sometimes financial strategies that you've used in the past may not be the best strategies going forward. At Future Benefits Insurance and Retirement Planning we do what's right, not what's popular!
© Future Benefits Insurance & Retirement Planning, All Rights Reserved.