Long-Term Care Insurance
Protect Your Long-Term Well Being
Chances are, you're looking forward to a long, active life after retirement. But as your age increases, there is a greater possibility you may suffer prolonged illness or disability that could leave you unable to care for yourself over an extended period of time.
At Arvest Wealth Management, our client advisors can help you develop a plan that incorporates the appropriate amount of long-term care for your specific needs.
As part of your financial strategy, long-term care insurance can provide part of the assistance you might ever need, while relieving your family from financial burdens. With the cost of private nursing home care in the U.S. now over $80,000 per year and full-time professional home care fees rising to as much as $55,000 annually, according to Senior Living, long-term care insurance definitely plays a vital role in your financial plan.
In a nutshell, long-term care insurance is a protection plan that pays you a set amount when you can no longer live independently. Long-term care can help pay nursing home or assisted living costs, or even costs incurred when you are disabled and confined to your home. Equally important, a long-term care policy can mean:
- You won’t have to deplete your life savings to care for yourself.
- You won’t be forced to rely on government welfare programs to survive.
- Your family and loved ones won’t have to sacrifice their assets and savings to care for you.
- You will be able to maintain some of your independence.
- You will be able to preserve your assets and pass them on to your heirs.
- You will be able to choose the location for your care.
Although long-term care insurance is a relatively new form of protection, as people live longer, it is more important than ever. Under federal law enacted in 1996, premiums may be tax-deductible and benefits tax-free if you own a tax-qualified long-term care policy.
There are many types of long-term care policies available with a variety of options and features. We survey the market to offer our customers only the best products from the highest rated companies in the industry. That’s Arvest Wealth Management’s commitment to you as our valued customer.FIND A CLIENT ADVISOR