Long-term Care Planning

Part of the risk management within your overall financial plan should include planning for the potential need of long-term care services. Whether provided at home, an assisted living facility or a nursing home, receiving long term care services can greatly impact your financial and personal life as well as that of your loved ones. Proper planning for long term care needs can help manage the financial and emotional impact of a long-term care event by providing funding options, legal directives, and avoiding being a burden to others.

Long-term care insurance addresses one aspect of long-term care planning by providing funds to pay for various forms of specialized care that may be needed when a person suffers from either cognitive impairment such as Alzheimer’s disease or dementia, or is unable to perform the typical activities of daily living, including: bathing, dressing, eating, transferring, toileting and continence. Although it may not cover all necessary expenses, long-term care insurance can help minimize the financial impact and protect your other assets from being depleted.

Long-term care insurance can vary significantly from one company to another. Prior to purchasing a long-term care insurance policy, you should review the options available to you through work, professional associations and also on an individual basis. Working with a financial professional who understands the various benefits and policy provisions needed can help you make an informed decision regarding this type of coverage. Neither Guardian, nor its subsidiaries issue long-term care insurance. However, our financial representatives can still assist you in locating a policy that fits your needs and objectives.

Register here for a complimentary consultation or call 888-513-2300 to speak with a financial representative today.