Скачать или смотреть Differences Between Long Term Care Planning and Long Term Care Insurance

At Carolina Family Estate Planning, we understand that creating an estate plan is not the easiest topic to discuss. Perhaps the discussion started after a major life change, like a birth in the family or a loved one’s move to a nursing home. Regardless of the reason, rest assured that our firm is dedicated to providing members of the communities of North Carolina with extensive resources to help you make the best decision for you and your family.

Together we'll create a plan that best fulfills your dreams and goals. We'll help you arrange your affairs in a way that is both personally satisfying and that meets your unique objectives—all while accomplishing substantial savings for your family in the long run.

We believe in a team approach, working collaboratively with your other professional advisors. We will work closely with your financial advisor, accountant, insurance agent, or other advisors to ensure that your entire financial plan works together and is suitable for your situation.

Learn every aspect of how to completely plan an estate in North Carolina:

Wills, Trusts and Estate Planning
Alzheimer's Planning
Asset Protection
Medicaid and Long-Term Care
Veterans’ Aid & Attendance
Executors, Trusts & Probate
Protecting Minor Children
Resources for People with Disabilities

Carolina Family Estate Planning
201 Commonwealth Ct #100
Cary, NC 27511
Phone: 919-443-3035
email: [email protected]
https://www.carolinafep.com/

What is the difference between long-term care planning and long-term care insurance?
Sometimes when I mention long-term care planning to people I see them sort of shut down and they’ll say I've heard about long-term care insurance and I've heard these rumors, it’s expensive. I always back up a little and say long-term care planning doesn’t necessarily mean long-term care insurance. Sometimes it does but long-term care planning for us is some sort of a broader term. It just means that we’re helping a client do some sort of planning in case they should need long-term care or maybe they already have some health issues and we’re currently helping them to figure out what care that they need and how to afford it. Long-term care insurance, that’s usually when people hear about whatever we call traditional long-term insurance. It typically may be in your 50s to 70s you'd go through some pretty stringent health screening with an insurance company and they probably have a nurse come out to see you run some tests and then the insurance company will come back and say hey we think you're pretty healthy so we’re willing to offer you a policy if you pay us a several thousand dollars per year, we’ll provide long term care policy for you. Down the road, if you wound up needing long-term care we’ll pay so many dollars a day for your care. While that’s an option that people should think about, a lot of the complaints that we hear from people about insurance is that it can be really expensive and it’s what we call the use it or lose it insurance so if you wind up needing long-term care then great you can use that coverage then you can use that policy but if you should wind up not needing care then you paid those premiums over all those years and you never really gained anything from that policy. It is for people to know that there are other ways than traditional long-term care insurance, there are some estate planning tools that we use sometimes that provide asset protection and might help you qualify for government benefits to offset some of your health care expenses. And there are other financial tools that provide long-term care coverage. Don’t assume traditional long-term insurance is going to be the only option available to you.

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