If you are age 50 or older, you may be concerned about adequately funding assisted-living expenses you may incur in the future. Most medical plans do not provide financial assistance for long-term care services, so where can you turn?
A long-term care insurance policy can help to pay for the cost of home care services and residential living centers. Consider this: you may pay upwards of $50,000 per year for home health services and approximately $90,000 per year if you move to a nursing home. If you weigh what you pay in premium against what you could pay out of pocket, this policy is a smart financial tool. You also may be able to claim some deductions on your taxes if you purchase a long-term care policy.
There are a wide variety of options to choose from, so consult with your agent today to discuss.
For more information or answers to your insurance questions, contact us at Allan Block Insurance Agency, https://www.allanblockinsurance.com, located in Tarrytown, NY in the heart of Westchester County, a key business district near 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. The Professional Agency with the Personal Touch.