Is Your Financial Planner Going To Pay Your Long Term Care Bills

Is Your Financial Planner Going to​ Pay Your Long Term Care Bills?
I always like to​ ask my clients, Will your financial planner be willing to​ pay your long term care bills, will they have access to​ good quality Home Health Care Providers? Many lawyers and advisors are now reluctant to​ recommend against Long Term Care Insurance for fear of​ law suits later on, from children, when hundreds of​ thousands of​ dollars were required to​ pay for their parents long term care bills. Planners who fail to​ recommend coverage are more times than not, unaware of​ the real RISK of​ needing care one day.
The senior has now become the GREATEST financial risk that Americans face today. The majority of​ them are unaware of​ it​ because lets face it​ No One wants to​ think about needing Long Term Care. it​ is​ going to​ happen to​ someone else!

Long term care bills are the biggest reason for financial failures among seniors today. Yet there are a​ lot of​ Financial Planners and Investment Advisors who will say that you dont need Long Term Care Insurance. if​ you already have a​ lot of​ money, perhaps you dont! The question is​ Would it​ be a​ smart decision to​ have this coverage?

What we are seeing today are many Financial Planners split on the subject of​ LTC Insurance. You will hear some say that if​ you have any resources you should not be without it, that it​ is​ an integral part of​ financial planning, while others think if​ you have enough money you should selfinsure. Who is​ right?
Every financial advisor I ​ talk with would recommend long term care coverage if​ he knew in​ advance that his client would need several years of​ long term care.

Do the math. in​ a​ state where long term care bills are averaging $170 per day, and the average premium is​ $4000 a​ year for a​ couple, aged 60, and they live another 20 years, they have paid out $80,000 in​ premiums for the peace of​ mind that they will not go broke. Without the insurance, they could end up paying over $80,000 in​ less than two years for ONE of​ THEM on the advice from a​ Financial Planner telling them that they DONT NEED IT!

It must be concluded that Financial advisors who recommend against LTC Insurance figure you are not going to​ need care since they would recommend you obtain coverage if​ they knew you were going to​ have to​ spend several hundred thousand dollars. You should find out from the advisor what is​ the BASIS for their prediction? Also, be aware that Advisors are sales people. They are in​ the business of​ making you money. if​ you purchase Long Term Care Insurance, you have less money for them to​ manage!

The decision is​ yours. at​ this point in​ your life, are you more interested in​ making a​ few more thousand dollars a​ year or​ are you more interested in​ protecting what you have already earned from the most DEVASTATING financial risk that people face in​ America today? One of​ the biggest financial mistakes a​ person can make today is​ needing Long Term Care and having no coverage! is​ this a​ mistake you want to​ take a​ chance on making? Seek out a​ LTC Insurance Specialist to​ help you make the best informed decision for you and your family.

Remember, your Financial Planner or​ Advisor is​ not going to​ pay your long term care bills. You will!

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