Serving in Boca Raton and throughout south Florida.
Call for a Free Consultation LOCAL 561-288-2267 TOLL FREE 800-416-4543

Should you consider long term care insurance?

If you are nearing retirement, you may be focused on planning on how to make your savings work throughout your golden years. This is a worthy consideration given that financial planning is an indispensible part of retirement planning. This is because as people age, the potential for getting sick or suffering severe injuries increases dramatically. Both of these maladies can be very expensive experiences that may not be covered by Medicaid or Medicare.

In the midst of your planning, you may see many commercials advertising the need for long term care insurance, as they often target soon-to-be retirees with meager savings. Before getting on the phone with a representative and taking part in the accelerated sales pitch, it would be prudent to meet with an experienced estate planning attorney to completely evaluate the need for long term care insurance. You may find that long term care may still be much more expensive than what you can afford in spite of your wealth and income streams.

Indeed, the chances of ending up in a facility for an extended period of time (more than six months) is not very good. This is because the majority of people do not stay very long. Overall, about 1/3 of all people actually spend time in rehabilitation centers. Of those who do go to care facilities, the majority will only spend a few months there. However, with some facilities costing $5,000 per month, why take the chance of whittling away all of your assets.

If you have further questions about the benefits of long term care insurance, an experienced lawyer can help.

The preceding is for informational purposes only and is not legal advice.

No Comments

Leave a comment
Comment Information
Email us for a response

Contact Us

6100 Glades Rd., Ste. 301
Boca Raton, FL 33434

Toll Free: 800-416-4543
Phone: 561-288-2267
Fax: 561-451-8223
Boca Raton Law Office Map

Aventura View, Suite 702
2999 N.E. 191st St.
Aventura, FL 33180

Toll Free: 800-416-4543
Phone: 561-288-2267
Aventura Law Office Map

Review Us

Contact Our Firm

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy