Long Term Care Insurance

I believe one of our main jobs at FirstMark is to help our clients recognize the risks they face and then know what their options are to address that risk.

I have recently had my eyes opened to the whole world of assisted living as I have been helping my 90-year-old father transition into full time nursing care. I’ve learned there are significant differences in the types and quality of care available. I’ve learned the cost of this care can also vary greatly but in all cases, it is incredibly expensive. My dad wasn’t independently wealthy and thus didn’t have a large nest egg to take care of these upcoming expenses. I was a bit stressed. 

I was so thankful to learn that my father had purchased a Long-Term Care policy 30 years ago. His policy started with a daily benefit of $115 and thanks to the Automatic Increase Benefit Rider, his current daily benefit is $247.50 – that is over $7,600 per month.

Here is my message to you. Please take the time now to consider your options when it comes to paying for your long-term care needs. If you (or your parents) are fortunate enough to live into the golden years, there will be care needed and it will come at a steep price. Long Term Care insurance is a great option and is remarkably affordable.

If you would like to see what your options would be, please reach out to us at clientcare@firstmarkinsurance.com. Your agent can quickly provide you with some options for your consideration. You may decide Long Term Care coverage isn’t for you, and that’s ok. We just want you to know and explore all your options while they are still available.

Thanks for listening, and here’s to a great 2023!