With record low-interest rates, many people have money sitting in an account earning almost nothing. You have lazy money. If this sounds familiar, pay attention.
We all need a plan for long-term health care. Few people realize the enormous financial costs of long-term care. We need long-term care services at some point due to an illness, accident, or the consequences of aging. Advances in medical science provide us with longevity, and the older we get, the more likely we will need extended care.
Matt McCann, a nationally known expert on long-term care planning, says one to plan for long-term care is to leverage an existing asset to create a much larger tax-free resource to pay for their choice of care. Since the cost of long-term care is expensive, a plan is necessary to safeguard your retirement plan.
“Hybrid Long-Term Care Insurance policies combine the benefits of life insurance or an annuity along with benefits for long-term care. That money sitting in a bank account or money market fund can create a tremendous amount of tax-free long-term care benefits. You will either receive the long-term care benefit or the death benefit. For some people, this is an ideal way to plan and ease the stress otherwise placed on those you love,” McCann said.
Imagine if you could turn $100,000 into a policy that turns into a long-term care benefit worth $250,000 or more with guaranteed annual growth. This solution is better than leaving $100,000 in a money market fund earning 1 percent or less.
McCann says not everyone has liquid cash. There are other affordable solutions available, but you must plan before retirement and before your health begins to decline. Even if you explored the idea of Long-Term Care Insurance in the past, speaking with an expert will help you find the right solution. The best time to plan is in your 40s or 50s when the most affordable options are available.
Licensed nationwide, McCann represents the major insurance companies. A unique advantage to working with McCann Insurance Services is the ability to meet virtually rather than in-person. McCann’s unique process allows you to view his computer screen on your device at home as you discuss options over the phone. This process will enable you to get expert advice safely and conveniently without leaving your home.
“There are several types of Long-Term Care Insurance. All of them will help you safeguard your income and assets as you give your family the time to be family,” said McCann.
McCann says families face a crisis when no plan exists for long-term health care. Give your family peace-of-mind with an affordable Long-Term Care Insurance option.
McCann Insurance Services: 866.751.7957: www.mccannltc.net
Source: The Daily Chronicle