Hundreds of agents, covering all states, ready to answer questions about cost of care in nursing homes, assisted-living facilities, and private homes
KIRKLAND, Wash., Sept. 11 (SEND2PRESS NEWSWIRE) — Long term care, which is not covered by regular health insurance or Medicare, will cost you a bundle. But how much, exactly, in your area? And how do the costs vary by facility type: nursing home, assisted-living facility, or your own home? These detailed numbers are not provided by the Government, but you can now get them through LTC Financial Partners (LTCFP), one of the 5,000 fastest-growing private companies in America, according to Inc. Magazine. LTCFP, which has grown from zero to 500 agents since 2003, is widely regarded as an authoritative, non-partial source of information on long term care and long term care insurance.
“We have 500 agents ready to supply the numbers,” says Cameron Truesdell, LTCFP’s CEO.
Why, exactly, is it important to know the specific costs in advance? Truesdell gives three reasons:
1. You need to know if you’ve got enough net worth to self-insure. “You might,” says Truesdell, “but most people don’t, and they’re often surprised to learn LTC can set them back more than sending a kid to college.”
2. If long term care insurance is for you, you need to know what monthly benefits you’ll require. “You don’t want to under-insure,” says Truesdell, “and why waste money over-insuring?” The location and variety of care you want will dictate the policy size and type that’s right for you. “For example,” says Truesdell, “nursing home care in Alabama costs only a third as much as nursing home care in Alaska, so you could opt for a lower-cost policy.”
3. LTC costs can be a factor in deciding where to retire. “People tend to ease into long term care in the area where they live in retirement,” says Truesdell. “So it’s wise to plan knowing the upcoming LTC costs. For example, in San Diego you’ll need a few thousand dollars less per year than in San Francisco for assisted living, based on today’s costs.”
The numbers supplied by LTCFP were generated by the MetLife Mature Market Institute in a 2007 survey. MetLife is one of several insurance carriers LTCFP represents.
A list of the LTCFP agents, by state, is available at web.ltcfp.com/ltcfp/find-agent.aspx?costs-on-call. The agents may be reached by phone or email.