Many options are available to safeguard assets from costs and burdens of Long-Term Care. New innovative & affordable plans provide families with peace-of-mind.
ATLANTA, GA, UNITED STATES, September 8, 2018 /EINPresswire.com/ — Interest in planning for longevity is surging with an improving economy and increased awareness of the need to plan for the financial costs and burdens that result from Long-Term Care, aging and health issues. This was the message delivered to financial advisors by one of the nation’s top specialists in Long-Term Care.
“We see a tremendous number of articles about Long-Term Care Insurance. Some positive and some negative. But there is no question that more American families than ever before understand the impact of long-term care and are seeking solutions. Many see first-hand the impact caregiving has on family members. They see the cost of paid care and the financial impact it has on income and lifestyle. However, often these articles misrepresent facts and that should not deter people from planning,” said Matt McCann.
McCann, who often speaks on long-term care issues around the country, said today’s Long-Term Care Insurance plans are very affordable and are helping American families.
“Over $9.2 Billion was paid to American families in 2017 alone as they deal with the impact of long-term care. These policies are working. Much of this care is provided at home not a nursing home,” he said.
While the promises made on older policies are being kept, today’s Long-Term Care Insurance is even better.
“Today’s Long-Term Care Insurance market is very strong. Products have innovative features and benefits. Today’s products are priced appropriately. Under regulatory rules that exist today they give policyholders peace-of-mind and rate stability,” McCann said.
There are multiple ways to plan, according to McCann, and most states offer Long-Term Care Partnership plans which provide additional asset protection.
McCann told advisors that consumers should always work with a specialist who represents the major companies in the industry. Premiums can differ widely. Underwriting criteria varies from one company to another. Plus, most general insurance agents and financial advisors don’t understand ideal policy design and claims. By working with a specialist, they can design an affordable plan which protects savings and eases the family burden.
There are few specialists that exist and often the closest specialist doesn’t even live in your state.
He stressed the importance of speaking with a specialist who works with the major companies in the industry, not just one. While these captive agents and advisors may have a great name brand available, that product can be much more expensive than it should be. Plus, the lack of experience in long-term care impacts the policy design.
“I work with consumers from all over the country and find the best coverage at the best value. I also work with many financial advisors and help them help their clients,” McCann explained.
While some media attention is negative, the article rarely tells the full story.
“You still see articles about old “legacy” products which were designed and sold decades ago. Today’s products follow new rules and are priced based on more conservative underwriting, low lapse rates and considering the extremely low-interest-rate environment. The products today don’t have these issues. When you add the power of the Long-Term Care Partnership Program and tax incentives, which are available for many people, planning for longevity has never been easier and more affordable,” McCann added.
McCann explains it is key to plan before retirement.
“Premiums are based not only on the amount of benefits you want but on your age and health at the time of application. Long-Term Care Insurance should be a key part of retirement planning. Affordable Long-Term Care Insurance is the solution to secure a better future,” McCann explained.
As one of the leading Long-Term Care Insurance specialists in the country, McCann helps people nationwide with his unique process where they speak with him on the phone while seeing his computer screen on their computer. He works with all the major companies in Long-Term Care and is endorsed by the American Association for Long-Term Care Insurance.
He recommends these reference websites for research:
McCann’s website also features numerous resources, so consumers can learn more about long-term care planning: www.mccannltc.net
McCann Insurance Services, Inc.
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Source: EIN Presswire