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Add Long Term Care Insurance To Your Retirement Planning

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Although long-term care insurance can be used by people of any age, it is always a very valuable addition to a retirement portfolio.

Long-term care insurance (LTC coverage) can protect your retirement savings from being consumed should you have a qualifying event that requires paid long-term care services at home or in a medical- or assisted-care facility. Sometimes, a policyholder will recover and go back to life as normal — for example, after a stroke or an accident. Sometimes, a patient will need paid care until death. Either scenario could use up a family’s savings. Long-term care insurance can help by paying for qualified expenses and leaving retirement assets intact.

A variety of riders can be purchased. Some protect against inflation’s effects on your benefits, and some guarantee the return of your premiums upon death. Long-term care insurance may carry tax benefits as well, and some companies offer dividend eligibility after a certain number of years.

There are many options for waiting periods, co-payments, special benefit riders and insurer payment limits, so ask your agent or broker about your choices.

Allan Block Insurance, Professional Service with the Personal Touch

We are located in Tarrytown, NY, in the heart of Westchester County, a key business district just north of New York City. We write auto, home, renters, condo, co-op, personal, business, life and group insurance for clients locally and in NYC, CT, NJ, PA, MA and many other states. For more information or answers to your insurance questions, please contact us.

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