We can help you plan ahead for health concerns.
Long-Term Care Insurance
Plan ahead for health concerns with long-term care insurance
Imagine saving throughout your entire life, only to have your whole savings wiped out in a short period of time because of a catastrophic health situation. You or a loved one may end up in a situation where long-term care is needed – would you be prepared?
Very few people have coverage for this need, but it is estimated that more than 70 percent of all people will need some form of care in their lifetime.1
Whether you like it or not, the quality of the care that you receive and where you receive it is directly related to one thing: money. In Oklahoma, the median cost of a private room in a nursing home was $60,225 per year in 2016. The nationwide median, by comparison, was $92,378.2
That cost can be much higher, however, depending on what care is necessary and whether you prefer long-term care in the comfort of your home, or away from home in an assisted living or nursing home facility.
The cost of long-term care, as well as the stresses of trying to deal with the health situation of loved ones, can take an enormous toll. Instead of being able to spend quality time with your loved one, you are stressed and simply trying to do what must be done to care for him or her.
There is a way to avoid this. Some insurance products can help make long-term care more affordable. With every client, we strongly recommend anticipating a scenario where you or a loved one will need long-term care, and planning for it while you can – before the need arises. Take time to consider your options and the costs associated with the options. Do it for yourself, for your spouse and for your children.
Blackburn Financial: We can help you prepare
At Blackburn Financial Group in Oklahoma City, we are glad to talk with you about your available options. We work with clients of all ages – not just those of retirement age. You are never too young or old to take care of the need for long-term care insurance, for yourself or for your loved ones.
Come see us and let us help you take charge of this situation, helping you develop a strategy for dealing with long-term care before you find yourself in a situation where it is needed.
For more information, contact us today.
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