Long Term Care

Who will take care of you if you are unable to care for yourself?

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As the oldest baby boomers begin to wind through their 60s, one of the biggest concerns may not be outliving income, but outliving good health. For retirees, home health care can cost $42,000 or more per year1, and nursing home care can run as high as $91,250 per year.2 Does your retirement income strategy account for this kind of possibility? Would you be prepared for potentially paying twice that amount as a married couple?

Considering that you could have to reduce your financial means before Medicaid will pay for long-term care and most employer group health insurance plans and major medical insurance plans won’t fully cover long-term care, you may want to consider planning ahead for these potential expenses.

We can help evaluate your situation and determine if a long-term care strategy may be right for you.

1 Genworth 2014 Cost of Care Survey: Home Care Providers, Adult Day Health Care Facilities, Assisted Living Facilities and Nursing Homes Accessed June 11, 2015.

2 Genworth.com. “Compare Long Term Care Costs Across the United States: 2015 Cost of Care Overview.” . Accessed June 11, 2015.

An optional rider is an additional feature available with some life insurance policies, and generally comes with an additional cost. Optional riders are designed to provide additional options above and beyond the standard provisions in life insurance.

We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.

Investment advisory services may be offered through Global Financial Private Capital LLC, an SEC Registered Investment Adviser, or Howard Bailey Securities LLC, a Registered Investment Adviser.