Long-term Care: What’s Your Plan?
November is National Long-Term Care Awareness Month. It is a campaign to raise awareness about long-term care (LTC) planning. The month’s goals are to:
- Encourage people to have conversations about long-term care
- Make plans for dependency
- Increase appreciation for LTC services
- Encourage action from lawmakers who control LTC funding
- Remind people to check on loved ones in nursing homes
We realize these are not fun conversations, but it is important to develop a plan for your healthcare needs. Having your loved one know and understand your wishes is a gift that will save undo stress, anxiety, and even thousands of dollars.
Our fiduciary advisors at Kowal Investment Group can help guide you in the development of a health care plan. Everyone’s situation will be different, which is why we will dive deep into your specific situation and propose our best recommendations. Insurance may or may not be a part of our recommendations. If you would like to learn more about long-term insurance, here are some resources to review.
Long-term Care Resources:
- For an idea on what the cost of long-term care services are: Cost of Care Study 2024
- Should I self-pay or consider a form of long-term care insurance: 3 Reasons LTCI is Better than Paying out of Pocket
- If I have LTC insurance, how is a claim triggered? What are the Triggers for LTCI
- How much does LTC insurance cost? Sample LTC rates
- I already have a LTC policy. What if I want to make a claim? A Guide For Your LTC Insurance
While we are not endorsing any particular company or type of LTC insurance, here are two consumer brochures from companies that offer a form of LTC insurance. We feel these are educational and provide insight into a type of LTC insurance.
Long-term Care Insurance:
- Traditional LTC insurance: NGL LTC Consumer Brochure
- Hybrid LTC insurance: Asset Care Consumer Brochure
This information can be a lot to digest and may even feel confusing, but that’s why we are here. You don’t have to go through this process alone. Contact us today to schedule a meeting with one of our fiduciary advisors.
Disclosures:
The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it
Any opinions are those of Kowal Investment Group. This material is being provided for informational purposes only and is not a complete description, nor is it a recommendation. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or a loss regardless of strategy selected. Prior to making an investment decision, please consult with your financial advisor about your individual situation.
Kowal Investment Group, LLC (“Kowal”) is a Registered Investment Advisor (“RIA”). Kowal provides investment advisory and related services for clients in State of Wisconsin and other states. Kowal will maintain all applicable registration and licenses as required by the various states in which Kowal conducts business, as applicable. Kowal renders individualized responses to persons in a particular state only after complying with all regulatory requirements, or pursuant to an applicable state exemption or exclusion.
