ASSESS YOUR DEDUCTIBLE : Raising it to $500 can result in a lower insurance premium. Just be sure you can afford to pay the deductible if you are in an accident.

click for more insurance savings tips

WHAT IS LONG TERM CARE (LTC)?

Long term care refers to a broad range of medical, social, personal care and supportive services needed by individuals over a period of time.
so. . .

 LTC is not just Nursing Home Care
              LTC is not just Home Health Care
              LTC is not just Adult Day Care
           LTC is ALL OF THESE

Why People Buy LTC Insurance

Most important reasons for buying Long Term Care Insurance, individual purchasers.
Understanding Long-Term Care Insurance
Planning Your Finances
Tips for buying Long-Term Care Insurance
Establish Clear Legal Direction
Keeping your home a good fit as you age

LTC graph.gif (7034 bytes)
Source: HIAA Study, 4/96

Baby Boomers Are Learning LTC Lessons

The Cost Of Waiting
    A sad chapter in the history of the baby boom generation is being written in the offices of our nation's nursing homes and assisted living facilities. Sitting next to their aging parents, baby boomers are finding out just how much nursing and assisted living facility care costs. And they are finding out just how little assistance the government provides. For those families fortunate enough not to have faced this scenario, now is the time to learn more about long term care.
     According to Sen. Charles Grassely, " All Americans must be alert and prepare for long term care needs." The American Health Care Association agrees. It recommends 		that individuals take advantage of the numerous retirement savings plans that are available. But the AHCA also cautions that it is not enough to save for retirement; one must also prepare for the increase in health care costs that comes with age.
     Through education about the issues of long term care, and the purchase of long term care insurance, baby boomers can enter their retirement years secure in the knowledge that they have prepared themselves for the possibility of needing long term care. More importantly, they can pass the lessons they learned on to their children.		      If you thing long term care insurance is for the elderly, think again. Even though you do not plan on accessing your benefits until you are in your 70s, 80s or 90s, you shouldn't put off buying a policy. On average, annual premium for a long term care policy purchased at age 50 is less than half the annual premium for a policy purchased at age 65. And if you wait until age 80 to purchase a policy, your annual premium may be 10 times that of the same policy purchased by a 50-year-old.*
     The amount of annual premium for a long term care insurance plan is not the only item that increases with age. The chance that you might not qualify for long term care insurance also increases. Buy a long term care insurance policy while you are young. the total premium will be much less than if you wait. And the chances you will be insurable will be greatest at this time.

*American Health Care Association

 

Do you need LTC Insurance? Consider Your Personal Needs

THINK ABOUT YOURSELF
1. Do you live alone? YES NO

2. Do you have a family history of poor health?		 YES NO

3. Are you a woman?		 YES NO


THINK ABOUT YOUR FAMILY
If you have no family members that can help you, check here and go on to question 7.

4. would you feel like you were imposing on family members if they had to provide assistance for you?		 YES NO UNSURE

5. Would your family members find it difficult to lift you, or to help you dress, undress, or bathe?		 YES NO UNSURE

6. Would it cause substantial financial hardship for your family if you required long term care services?		 YES NO UNSURE


THINK ABOUT COMMUNITY SUPPORT
7. Are you concerned about spending all of your savings and giving up other assets to qualify for Medicaid? YES NO UNSURE

8. Are you concerned about having limited choices on where you receive care?		 YES NO UNSURE

9. Would you prefer to receive care in your home if possible?		 YES NO UNSURE


THINK ABOUT YOUR FINANCIAL SITUATION
10. Would having $27,000 to $80,000 or more taken from your assets every year for an undetermined period of time have a big effect on you or your family's lifestyle? YES NO UNSURE

11. Could the cost of paying for long-term illness wipe out your life savings?		 YES NO UNSURE

12. Do you have children or others whom you want to leave an inheritance?		 YES NO UNSURE


RATE YOUR NEED FOR LTC COVERAGE
How many times did you answer "YES" above? If you are not married, add 2 to your score. If you check "support from family is not available," add four to your score.

More than 8 - You probably have a high need for long term care insurance. Take the next step. Schedule a personal consultation with Dalton Insurance.

4 - 8 - You probably have an average need for long term care insurance. It's time to learn more. consider scheduling a personal consultation with Dalton Insurance.

Less than 4 - You probably have a less than average need for long term care insurance at this time. Retake this quiz every few years to help monitor changes in your risk assessment.

UNSURE - Now is the time to find out. Schedule a personal consultation with Dalton Insurance.

Thank you for taking the personal needs survey. Would you like to have an agent contact you in regards to your survey findings? Please complete the contact information below and click "SUBMIT" to send your request, along with the survey results to a Dalton Insurance Agent.  We will contact you within 48 hours.

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