Long-Term Care Advisor Near Me 

Long-Term Care Advisor Near Me

As you age, you may very well require help from professionals without an assisted living facility or nursing home. While this type of care can be essential for your health and wellbeing, it can also be extremely expensive. For help navigating your options for paying for long-term care, reach out to a long-term care advisor near me. At Harvest Financial Planning, LLC, our long-term care advisors and financial professionals can help. Reach out to us directly today. 

What Is Long-Term Care and Long-Term Care Insurance?

Long-term care refers to care within a nursing home or another type of assisted living facility. According to LongTermCare.gov, someone who is age 65 today has nearly a 70 percent chance of needing some type of long-term care service and support in their remaining years. 

Long-term care insurance is insurance that is designed to pay for the costs of long-term care. By having insurance, you can avoid having to pay for this type of care out of pocket. 

Why Do I Need Long-Term Care Insurance?

Nursing homes and assisted living facilities are extremely expensive. Indeed, the median annual cost of a nursing home is over $100,000 annually—a huge expense for someone who is no longer working (or able to work) and living on retirement or disability income. By having long-term care insurance, you mitigate the risk of having to pay for these expenses out of pocket—or having your children or another caregiver assume these costs. 

Long-term care insurance can be used to cover the costs of:

  • A nursing home
  • An assisted living facility
  • In-home care

Types of Long-Term Care Insurance

Different long-term care insurance policies have different provisions, cover different types of care, and come at different cost points. There are two primary types of long-term care insurance:

  • Stand-alone long-term care insurance. Stand-alone long-term care insurance is often referred to as traditional long-term care insurance. These policies typically reimburse the cost of care up to your policy limits if you require assistance with at least two activities (such as bathing and eating) or you’ve become cognitively impaired. 
  • Hybrid long-term care insurance. In a hybrid policy, two types of policies are combined—a long-term care insurance rider with a life insurance or qualifying annuity policy. 

Find a Long-Term Care Advisor Near Me

Navigating long-term care insurance can be more complicated than it seems. You need to weigh the costs of your premiums against the benefits that a policy will provide. It can be difficult to know how much coverage you’ll need and when you might need it.

When you work with a long-term care advisor near you, your long-term care advisor can help you to answer all of these questions and more. 

Call Harvest Financial Planning, LLC Today

At Harvest Financial Planning, LLC, our experienced long-term care advisors can help you. If you have been asking yourself where you can find a long-term care advisor near me, look no further than our qualified financial professionals at Harvest Financial Planning, LLC. You can reach us by phone or online at your convenience. 

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