What is long term care insurance?
Long-term care insurance policies in Nevada reimburse policyholders a daily sum (up to a pre-chosen limit) for services to help with activities of daily living. ADL’s or Activities of Daily Living include:
- Bathing. The ability to clean oneself and perform grooming activities like shaving and brushing teeth.
- Dressing. The ability to get dressed by oneself without struggling with buttons and zippers.
- Eating. The ability to feed oneself.
- Transferring. …
- Toileting. …
The choice of where you receive assistance is up to you. Some Long-Term Care Insurance Nevada policies have limits on how long or the amount they will pay. Policies vary, thus you’ll need the help of an expert to uncover your need. The experts at Retirement Planning Solutions are a phone call away.
Why Retirement Planning Solutions?
At Retirement Planning Solutions, we first uncover the need. We don’t believe in over insuring and wasting your money. Transferring the financial risk to an insurance company is essential to your being able to retain your savings and pass your hard earned money to your loved ones. We can assist you with securing the best Long-Term Care Insurance in Nevada.
What are the advantages of A Long-Term Care Insurance in Nevada plan?
Nobody wants to think about being in an assisted or skilled living facility. Planning for long term care insurance in Nevada with retirement planning solutions is something most people postpone until it’s too late. Can you purchase auto insurance after you’ve wrecked the care? NO! Your children don’t want to be your primary cargiver. They have their own lives and can’t quit to take care of you. Your 401k wasn’t meant to fund your long-term are expense. So what are you going to do?
Advantages of long term care insurance.
- Protecting your personal savings.
- Maintaining independence.
- Choice of where you receive care, with A Long Term Care Nevada Insurance Plan, you decide to stay at home, move to an assisted living or skilled living facility
- To eliminate caregiving from your friends and family.
- To assist with passing on your resources for your family.
When Should You Buy?
Assuming that long-term care protection is needed, you may want to buy this coverage as soon as possible. The longer you wait, the more expensive it becomes.
Some people ask me if they would be better off saving money to prepare for long-term care need rather than transferring the risk to an insurance company. Most people can’t save enough to cover the need. If we assume for illustration purposes that your savings produced a net return of 5% per year, your accumulated savings would be: