Long Term Care Insurance in Dallas-Ft Worth
At DFW Retirement Planners, we can help you plan for the future and for the unexpected.
A large percentage of people who are 65 or older will need long-term care at one point or another in their life.
Health insurance doesn’t cover long-term care; therefore, the financial responsibility falls back on the patient or the patient’s family if long-term care insurance isn’t in place.
What Does Long-Term Care Insurance Cover?
While long-term care coverage varies depending on your specific policy, some of the different types of coverage that can be obtained include:
- Assisted living
- Home care
- Hospice care
- Nursing home care
- Respite care
Long-term care can be quite expensive, and its cost is only expected to grow over the future years. Without long-term care coverage in place, the expenses associated with it would be your and your family’s responsibility. Based on today’s rates, full-time nursing home care can easily top 6 figures per year.
When Should I Consider Long-Term Care Insurance?
One misconception regarding long-term care insurance is that people don’t need it until they’re ready to retire. An unexpected accident or disability can lead to needing long-term care at any stage in life, and it’s best to be prepared.
Another misconception is that long-term care insurance is only needed when a person becomes severely ill. Long-term care insurance can help you take care of day-to-day basic needs on a temporary basis. For example, if you could not cook your own meals or needed help taking care of yourself due to a fall or another type of injury, long-term care insurance could assist you.
DFW Retirement Planners can present all of your long-term care insurance options to you and help you decide on how much coverage you need. If you’re just getting started with financial and retirement planning, long-term care insurance can be included in your planning. Or, if you already have a financial or retirement plan in place, long-term care insurance can easily be added to your current plan.
Contact our office today to get started.