Long-Term Care Insurance in San Antonio TX & New Braunfels TX

Personal and Financial Protection for the Long Term.

As we live longer, the chances that we will need some assistance with our daily activities increases. About 70% of people turning age 65 will need some form of assistance during their lifetime. For a quick overview of the issue visit the government site on long term care:  https://acl.gov/ltc Be sure to return here for more information.

Long-term Care insurance policies have evolved over the years, but a standard long-term care policy still has two issues  that many people find to be a deal-breaker.

One: All conventional stand-alone long-term care policies are guaranteed renewable. That means, you have the right to renew your policy at the end of each term, but the insurance company has the right to increase the premium on all its policies in a specific state. Let's face it, conventional long-term care policies are, after all, a type of health insurance policy, and we all know what the history of health insurance premiums has been over time.  As a historical fact, almost all conventional long-term care policies have delivered significant price increases to their insureds over the past few years. Purchasing a plan of insurance which has an indeterminate cost as one is entering a stage of life where income tends to be fixed is not a sound financial decision.

Two: While modern long-term care policies do an excellent job of covering the costs of care in multiple venues, the question still remains: "What if I pay for this policy for twenty years and never need care?" Well, a stand-alone conventional long-term care policy is, after all, an insurance policy. Insurance policies are purchased to protect the insured against financial loss in the event of an unforseen event. No one asks "What if I pay premiums on a homeowner's policy for twenty years and never have a claim?" But somehow that sentiment about long-term care has been an impediment to taking action for many people.  

To address these concerns, several insurance companies have developed new solutions for the problem of long-term care. These innovative solutions involve a product that is based on either a life insurance policy or an annuity. With these products, premiums are fixed and will never increase and if care is never needed, a benefit can be passed to children, grandchildren, or a favorite charity. 

For a quick overview of one company's innovative solutions to the need for long-term care insurance, click here 

 

Individuals looking to purchase Long-Term Care Insurance must meet certain conditions in order to qualify for benefits. Talk to an insurance professional with M A R Insurance Group to learn more about Long-Term Care Insurance and whether you should add it to your current policy.

All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. Policy guarantees and benefits are not backed by the broker/dealer and/or insurance agency selling the policy, nor by any of their affiliates, and none of them makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company.