Thanks to advances in healthcare and nutrition, we are living longer and longer with every generation. Unfortunately, that doesn’t always mean it isn’t without health concerns. It is now possible for someone with chronic health ailments to live a very long life, but may need some healthcare assistance along the way.
Long Term Care Planning is about having the necessary assistance to do the necessary daily living activities when we get older such as bathing, eating, toileting, transference, etc. Many times this assistance can provided in form of home healthcare, where someone comes to your home on a daily or period basis to provide the assistance. Other times it may be provided in an assisted living facility or a nursing home depending upon your needs.
Long term care planning is essential to making sure you are adequately prepared to meet the financial needs you may face later in life as the costs for long term care are rising and can be very expensive. Most long term care costs are also not covered by Medicare.
By having appropriate planning and insurance in place, you can rest assured you are not a burden to your family and also do not have to deplete your retirement assets leaving your spouse impoverished.
Fortunately, there are many products available on the marketplace now to address these needs including long term care insurance, annuities and life insurance with long term care riders that can provide the necessary benefits if needed, otherwise, they are paid out as income and death benefits to the beneficiaries if never used.
At InsuranceWala, we understand how to effectively put a plan in place for your potential long term care needs. We even have products that provide cash benefits that can be used abroad for individuals who would like to retire internationally.
If a long term care insurance is right for you, we’ll help you search through the many options available including the optional riders to help keep up with inflation to find the policy that is right for you. If utilizing your current retirement savings measures make more sense, we can help there too.
Let us support you in the long term care planning process by offering our expertise. Call us at 770-451-1932 for a free consultation.
At whatever stage of life you’re in, we have experts that can help make sure the financial measures you take are the right ones to accomplish your goals. InsuranceWala combines an astute knowledge of financial planning with our insurance expertise to give you invaluable advice.
Here are some interesting survey results from Rajesh’s book “The Money Talk”:
Average costs of long term care services today nationally. Your costs may vary based on your area and other criteria. See up to date Senior Home cost data here.
If you’re planning for retirement, the key is to put measures in place now to ensure you have enough funds to not only cover your expenses, but enjoy this season of your life to the fullest. Each generation is living longer than the one before. Will you have enough financially to live on your terms? We are experienced with a multitude of financial tools, such as insurance products, investment opportunities, etc., to help you put the best plan in place for retirement. Retirement planning doesn’t have to be complicated when you turn to InsuranceWala.
Check out Rajesh’s new book “The Money Talk- Retirement & Estate Planning for Indian Americans”. How to create a retirement plan that can weather the storms of life and ensures you do not outlive your income for a worry free retirement life.
If your concern is estate planning, we can support you here as well. A common misconception is that estate planning is only necessary for the very wealthy. Not true! You need to establish a plan for your estate now, because if you don’t, the government will be forced to create one for you. Estate planning could mean anything from having a proper will in place to more extensive strategies. We’ll help you determine what’s right for you based on your situation and needs.
We also have a particular expertise in the area of charitable giving. Our firm’s president and CEO has a personal goal to bring $100 million to worthwhile causes with charitable planning for our clients. Not only do we have a passion for giving, but we have the tools and expertise to help you make the best decisions and create the greatest impact (while making sure we plan for, and work to mitigate, all tax implications).
If you are one of the blessed earning high incomes and would like to explore legitimate tax planning strategies that can help you save more and reduce your taxes, you need to talk to us. There are many strategies you can use to help reduce your income taxes and provide an excellent wealth accumulation and transference for your family.
Time is of the essence in financial planning, so don’t waste another minute. We’ll help put the right strategies in place for you.