Long Term Care Insurance Planning is important.   Retirement keeps being moved further back because the economy has caused us to need more years of income to live the lifestyle we desire and our current assets and incomes have been affected.  Now the focus is to protect our retirement income.   If the cost of care at home is $200 per day now…based on projected inflation of 5% compounded we could need $540 per day for the same level of service.  Long Term Care Insurance is cheap compared to that expense!   A 55 year old can buy coverage anywhere from $1800 per year for a basic plan to as much as $4000 per year for a very comprehensive plan.   The point is that “significant” coverage is somewhere in between and a good plan should be tailored accordingly.   There are ways to save money: 

• Premiums are age based….buy young (Don’t leave your 50’s without it!)
• Marital discounts can be as much as 40%. 
• Preferred health discounts can be as much as 15%.
• Multi Life plans (3 or more applicants)can be discounted, offer simplified underwriting, and can be segregated.
• New combination plans include life insurance, leverage options…and guaranteed return of premium.
• State Tax credits are big.   (NY gives a pure 20% credit for total premium paid!)

The new generation of LTC plans offer a refreshing variety of options to suit more needs.  Cash alternative benefits are available and add new flexibility.  State partnership plans have been updated and are now offering more levels of asset protection.

This is a great time to get in touch with Schneider & Shulman Associates.  We are Long Term Care Insurance specialists and will answer all your questions and give you a range of benefits and premiums to consider.   We will then help you design a plan that works for you.  We do not charge for this service….its free.   We are General Agents fo the top providers including: Genworth,  John Hancock, MetLife and Prudential.  Call us toll free at 1 877 843-9582.  Or visit us on the web at www.ssltc.com or email us at info@ssltc.com.

 Ok, these are uncomfortable times.  The media and the economy have created a sense of withdrawal concerning spending.  We all are trying to conserve our dollars and protect our assets and retirement plans.  We worry that we may not have what we planned to have.  So we think of ways to plan for these changes.  Maybe we plan to spend less, or delay retirement, or keep the present car a little longer.  But here is a question that we do not want to consider, but must:  What would the consequences be to my family and my finances if one of us need care for an extended period of time?  This is not about the risk of needing care; it is about the consequences. 

You may never need Long Term Care, however; the consequences could be so financially and emotionally devastating to your family, that it must be considered.  You need to have a plan.  Most often Long Term Care Insurance is the least expensive way to finance that plan.  A couple in their 50’s could pay as little as $2,000 per year to have a total benefit of $432,000 available for care.  That would certainly be better than taking $432,000 from your income or assets.

Call us toll free at 877-843-9582.  We offer a FREE consultation by phone, with no obligation.   Schneider & Shulman Associates  will provide for FREE a comparison of plans and quotes specifically customized for you.  Visit our website for more information: www.ssltc.com.

Schneider & Shulman Associates are Long Term Care Insurance experts and if all you want is a quote…then yes we can provide that.   But….as true experts we think you can do better!  

If all you want is a quote, then my advice would be that you should already know exactly what your plan is and how much coverage would be appropriate for that plan.  If you do not have that information, it is almost like considering buying a car for $10,000 and not having any idea what that car is.

If you are truly interested in learning about Long Term Care plans, then Schneider & Shulman Associates will be happy to spend as much time as you need providing all the information you need…and we do that for FREE also.  Our experts are patient, knowledgeable and experienced.  We promise you will be well advised…even if you do not know what to ask. 

Then once you know enough to formulate a plan that’s appropriate…we will provide premiums and comparisons of only the best insurers to finance your personal plan.   The companies we represent are: Genworth, John Hancock, MetLife, Prudential, MedAmerica, and Allianz.

Let us show you what we know about protecting your family and your retirement.

David Shulman & Jay Schneider…..speak to an expert! 

   David Shulman, CLTC 

I realized that many people do not actually know what Long Term Care planning is all about! Simply stated:
Long Term Care Insurance is a planning tool that allows you to pay an affordable premium to protect yourself in case of an unaffordable catastrophic event.

You may never need Long Term Care, but if you do and you’re unprepared, the consequences to your family and retirement portfolio can be catastrophic.

Long Term Care Is Not Medical Care
Almost everyone believes the chances of ending up in a nursing home are remote. But please don’t confuse that with growing old and needing care. Different from medical care, Long Term Care assists a person with normal daily activities they can no longer manage. Whether your need is due to age, injury or disability, Long Term Care Insurance provides daily and/or monthly benefits to pay for the necessary care not generally covered by health insurance, Medicare or Medicaid.

It is true that Long Term Care (LTC) Insurance will pay for nursing homes, but that is the one place most of us would never want to be. Actually, LTC insurance can keep you out of a nursing home by providing funding to hire someone in your own home.

Benefits are triggered by the inability to perform two or more activities of daily living (ADLs): toileting, bathing, dressing, eating, transferring (getting from one point to another without falling) or continence. A cognitive impairment, which can include problems with memory, perception, problem solving and conceptualization, can also trigger benefits if it leads to a requirement for substantial assistance. Your own doctor is the one who certifies that care is needed.

Preserve Your Lifestyle and Well-being With Long Term Care Insurance

Schneider & Shulman Associates encourage you to consider Long Term Care Insurance as a means to preserve your lifestyle, your estate and your family’s well-being.

Call us for free information toll free at 1 877 View LTC ( 1-877-843-9582) or visit our website: www.ssltc.com

Schneider & Shulman Associates come across articles written by others that we find interesting. Some we agree with, others we do not. Take a look and decide for yourself. You can comment on or question anything pertaining to Long-Term Care Insurance Planning issues right here on this BLOG. Or you can call us toll fre at 1-877 View LTC (1-877-843-9582) Visit our Website www.ssltc.com

NY Times 10/24/08  Great Article about Baby Boomers and LTC Planning!: http://www.nytimes.com/2008/10/23/business/retirement/23CARE.html?partner=permalink&exprod=permalink

Time Magazine Covers Long Term Care: This is a good article that discusses the benefits of buying Long Term Care Insurance at Younger Ages:
http://www.insurancenewsnet.com/article.asp?n=1&innID=846364408
note: See our advice regarding When The Best Time is To Buy LTC Insurance:
http://www.ssltc.com/blog/?p=48

Jean Chatsky discusses when to buy Long Term Care Insurance:http://www.msnbc.msn.com/id/26411560/

US NEWS and World Report Article on When to Buy Long-Term Care Insurance:
This article by Emily Brandon has sparked strong responses from professionals (including me) and actual policy holders and families who disagree….check out the reponses/comments as well:
http://www.usnews.com/blogs/planning-to-retire/2008/09/02/the-best-age-to-buy-long-term-care-insurance.html

Here is a blog from Caring.com on What age to buy LTC insurance: http://www.caring.com/questions/when-is-it-the-age-to-buy-long-term-insurance

Kiplinger Article on Deducting Long Term Care Premiums: http://www.kiplinger.com/columns/ask/archive/2008/q0814.htm

Don’t Let Price Increases Scare You Away From Long-Term Care Coverage  9/14/08 “The Street” By Terry Savage:  http://www.thestreet.com/story/10437227/1/dont-let-price-increases-scare-you-away-from-long-term-care-coverage.html

Premiums are age based.  Mathematically, the best time to buy LTC insurance is in your 40’s… but not many people do.  Most people that age are dealing with mortgages and tuition, and have not focused on retirement plans.  

Schneider & Shulman Associates recommend that you consider Long Term Care Planning in your 50’s.  You will have a good chance of qualifying for preferred health rates which are discounted as much as 15%. 

We have been asked by clients and brokers if it makes sense to wait 5 years to buy.  The problem is that you will be at risk for change in health and rate increases for new applicants.  Rates do go up for new…(not existing) buyers about every 2-3 years.  A change in your health can effect your eligibility.  Also, our plans include inflation options.  If you wait 5 years you will need to consider a higher benefit.  Five years of waiting could require a 25% higher benefit.  We can show you in every case that even though you would save 5 years of payments, the net cost of the insurance would increase by 25 to 50%. 

Our basic recommendation is to “lock-in” your premiums and your health and take care of this valuable planning as soon as and as inexpensively as possible.  Call us for a free consultation and personalized comparison.  Most of our clients are pleasantly surprised.  Call toll free: 1-877-843-9582. 

This article is to accentuate the concept of having a plan….not a policy.  Nobody wants to buy insurance for something they do not think will happen.  After all, I do not buy the extended warranties on my kitchen appliances.  I do know it is possible they can need service, but I am willing to take the risk.  That is my plan.  However, if I have to replace my dishwasher…it will not be financially devastating or have any major effect on my family.

Although I believe that the risk of needing care may be less than my dishwasher breaking (hopefully) … the consequence to my family financially and emotionally could be devastating.  My “plan” would most likely be to be able to stay in my own home…my last choice would be to enter a facility.  The cost of home care can be as much as $100,000 per year.  Where would the money come from?  Without insurance I would have to rely on my income or assets.  In retirement, my assets would be providing most of my income….and there is no “extra” income.   So in actuality, Long Term Care  Insurance would be the least expensive way to finance my “plan”.  This way my assets and income would be undisturbed, and my family could continue their lives and lifestyles without having to sacrifice. 

The conclusion is that Long Term Care planning is not about the risk of needing care…..its about the consequences to your finances and family.  A good Long Term Care Insurance specialist can custom tailor an insurance plan to suit your needs and your budget.  Schneider & Shulman Associates will do that for you at no charge.  Call us toll free at 1 877 View LTC or visit ssltc.com

.David Shulman & Jay Schneider

Below are our 3 current radio spots…just click on them to hear:

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Click on the link below for a Summary of federal tax deductions as it applies to Long Term Care Insurance.  We recommend that you speak to your accountant regarding how you can take advantage of opportunities the government allows.  You can get more information by calling Schneider & Shulman Associates toll free @ 1 877-View LTC (1 877-843-9582) or email us at info@ssltc.com

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