If you’ve been holding off on receiving information about the APBPA Long Term Care Program, it’s time to take another look. At APBPA we understand the importance of this coverage; many of us have policies of our own, and want you to feel the same security we do in knowing our retirement can be protected. In this day and age, long term care insurance is a key component to that protection.
Many have already exhausted their retirement in a very short amount of time in an effort to pay for long term care. Although Medicare provides valuable benefits, it doesn’t cover these costs.
Some years back, one of our Life Members faced a problem. He had a long career in baseball, over 20 years in the major leagues and several years managing in the minors. After his baseball days were done, he worked for a number of years before retiring at age 65. At that time, it appeared that everything was fine. He was drawing two pensions, his children were grown and gone, and he and his wife seemed financially secure. But then tragedy struck. She was diagnosed with Alzheimer’s Disease and had to go into assisted living. The family had no insurance for long term care, and within three years the family’s savings were exhausted. The pension income he received was barely enough to cover the cost of the outside care. The member’s wife died a few years later, and he died shortly afterwards.
Long term care insurance helps bridge the gap by covering the costs for nursing homes, assisted living centers and in-home care. In fact, 74% of consumers between the ages 55-65 are already looking into some type of long term care – that’s about 3 in every 4 Americans.
Unfortunately, many people decide whether or not to buy coverage based on their willingness to pay the premiums, not the need. The decision should be based on the longer view of protecting retirement assets. With our living longer comes the greater risk of needing care and the cost for that care can derail the best-laid retirement plan.
Although this protection is extremely beneficial, understanding the available options can be overwhelming. To help educate APBPA members about long-term care insurance, LTC Financial Partners is offering a comprehensive educational program to help you understand these options and determine if long-term care insurance is right for you.
In addition to educational materials, APBPA members and their family members may be eligible for discounted long-term care insurance through a top-rated carrier.
Call toll free (877) 743-7180 (M-F, 8am – 5pm PST) or visit www.apbpaltc.com to help relieve the financial and emotional burden on your family today to save a lot of worry tomorrow.
