Long Term Care

The Six Activities of Daily Living are the basis of which a LTC insurance claim is paid. The desire to protect your life savings and quite possibly alleviating any financial and/or physical burden off your family members is key to this purchase. Analyzing this type of Insurance in today’s dollars and looking into the future is very prudent in analyzing this type of purchase. Buying Long Term Care Insurance should be a “strategic” element that completes your Insurance portfolio and Estate Plan.

Within the last several years, Long Term Care Insurance has been incorporated into permanent life insurance products (mostly as a free rider). In the event an insured loses 2 of the 6 Activities of Daily Living or becomes incapacitated the life insurance contract stipulates a portion of the death benefit can be advanced to assist with pay for care; unlike true LTC Insurance, there are no waiting periods or receipts required. If the money is not advanced, it is there for the heirs of the policy. For example, today in Houston, TX it costs on average $8000 per month for private duty nursing. Couple this with annual double-digit inflation in the costs associated with this care, the consequences are severe. There are about a dozen factors to consider when building a long term care package that collectively best suites you and/or your spouse’s needs – both financially and socially.

510 Bering Dr. Suite 490 , HOUSTON, TX 77057
Phone: 713 877 1717 Fax: 713 877 1719
Email: rraia@parklandrep.com/nick@raialife.com
Securities offered through Parkland Securities, LLC.
A registered broker/dealer. Member FINRA & SIPC.