November brings colorful foliage and hints of winter in the air, but it also means the start of National Long-Term Care (LTC) Insurance awareness month!

LTC insurance awareness focuses particularly on consumers who have yet to start planning. Long-term care includes a wide range of medical and support services for people with a degenerative condition (such as Parkinson’s, or those that occur after a stroke), a prolonged disease (like cancer), or a cognitive disorder (Alzheimer’s). This type of care is chronic (full-time) and thus can become very expensive. It can be provided in many settings, including nursing homes, your own home, and assisted living facilities.

Planning for old age, and the health problems that come along with it, is best to do now, before it is too late. It is so important to get ready for a better future, protect your retirement savings and your independence, and spare your loved ones from having to assume the responsibilities of paying for your care.

Here are some important facts about long-term care insurance and how you can save:

·         You must health-qualify for long-term care insurance. Not everyone can. Because health changes, especially as you grow older, it’s smart to look into this well before you reach retirement age. Health qualifications can also vary from insurer to insurer. If you’re in great health, don’t use tobacco products, and do not take any medications, every insurer will accept you. Each insurer sets their own qualifications, and those can vary over time. So, be prepared to share your information with an insurance professional – you want them to be able to match you with the best protection for the best price.

·         You’re only going to buy Long-Term Care Insurance once, so make sure you find good coverage. Costs are based on your age at application, so it is best to buy LTC insurance as soon as possible. Your health today can save you 10% to 20% each year. Individuals with few or no current health conditions pay less for their insurance, and this good health (often referred to as preferred health) discount is locked in. That means that you won’t lose your savings when your health changes!

·         Discounts are also offered to married couples and even unmarried adults who are living together.

·         Long-term care can also be necessary for young people, as a result of an accident or an illness that tends to afflict younger people (such as Multiple Sclerosis).

·         If you haven’t heard of LTC insurance, that’s probably because it is relatively new. People are living longer into their lives, so long-term care and LTC insurance have become more widespread and necessary.

Combined Benefits United is a qualified broker that can assist with your future care plans.  We can compare prices among insurance carriers to get you the best coverage and to ensure that your future plans are solidified. If you have any questions or would like to learn more about Long-term Care Insurance, please feel free to contact our office to arrange for a free consultation.