-Negligence lawsuits (plaintiffs)
-Taxes (income, capital gains, estate)
-Downturns in the stock market (see last two crashes of -46% & -59%)
-Long-Term Care (LTC) costs
Did you know that 69% of people turning 65 years of age will need long-term care at some time before they die? Did you know that average monthly cost for nursing home care is $6,665? The costs of LTC can devastate a family's wealth and it should be protected against.
Looming deadline - most people have no idea that three of the major insurance companies left the Long Term Care business this year. That's a big deal since there were not many companies who offered LTC insurance in the first place.
One of the remaining companies is changing its underwriting guidelines and not for the better. The result of the changes will be much higher premiums for clients.
Lock in rates now - the only good news is that people who put their applications in prior to August 24th will be able to take advantage of the current rates. If you have been thinking about buying Long Term Care insurance to protect your wealth from the devastating costs of nursing home care, now is the time to act. If you would like information on the company whose rates will be increasing on the 24th of August, please call or e-mail us.