The cost of long term care will deplete a lifetime of savings

If the need for long-term care arises and you don't have insurance, the associated costs may have to be paid out of personal savings or financed by loved ones. If you are unable to afford the cost of hiring care providers, family members may be required to assist you, which means they may have to take unpaid leave from work. By purchasing long-term care insurance, you help to ensure that any costs associated with your care are covered, thereby lessening the financial burden on yourself and your family.

If you don't think paying for this sort of coverage is a worthy expenditure, think again.

Without long-term-care insurance, you (or your family) has to foot the bill for assisted-living or nursing-home care. Health insurance doesn't cover it. Medicare doesn't cover it. Medicaid does cover long-term care but only after you've depleted most of your  assets. Considering that the median annual rate for a private room in a nursing home was $74,208 in 2009, according to the Genworth Cost of Care Survey, it wouldn't take long to spend yourself into poverty. At that point, you're basically letting the government pick a nursing home for you.

Is that what you want? Probably not. 

That's why you need to consider buying a long-term-care Insurance Policy.

NY State has a booklet to explain the affordable financing for long term care http://www.nyspltc.org/docs/ltcnewbooklet.pdf

http://www.planaheadny.com/cost.htm

Please e-mail us for a free LTC Booklet and a free consultation.

Mintco Financial has helped thousands of families purchasing long term care insurance at the right cost.

E-mail us with questions: anecamara@mintcofinancial.com

Among the top rated companies we work are Genworth and John Hancock.