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Preserving Your Assets and Your Dignity - Long-Term Care Insurance

Long-term care insurance purchased today can help provide you with the financial security you need and deserve in your retirement years.
By acting today, while you are still healthy and active, you will have protection to handle whatever a long life brings!
Without long-term care insurance to help meet the cost of needed long-term care services, you run the risk of depleting a lifetime of savings. With long-term care insurance, you’re in a better financial position to make the choice of what long-term care services you receive and where you receive them.
PLUS, qualified long-term care insurance receives favorable income tax treatment.

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Preserving Your Assets and Your Dignity - Long-Term Care Insurance

  1. 1. Protecting Your Future 453332 Long-Term Care Insurance Revised April 2021 1
  2. 2. Connecting You to What Matters Most The need for long-term care has the potential to derail your plans and impact your connection to the things that matter most: Your family Your home Your nest egg 2 453332
  3. 3. Who Needs it? No one knows what the future holds in store. • As people age, they may need help with things they once were able to do for themselves • Accidents and injuries mean younger people need long-term care services, too Long-Term Care Insurance 3 453332
  4. 4. Common Myths • Health insurance covers long-term care services • Medicare will cover all my long-term care costs • Medicare is the same thing as Medicaid • I’m too young to buy Long-Term Care Insurance 4 453332
  5. 5. Where are Services Provided? Long-term care doesn’t mean you have to go to a nursing home. Services are available in a variety of settings: • Home • Community • [Assisted Living Facility] • [Nursing Home] Long-Term Care Insurance 5 453332
  6. 6. The Cost of Care Home Health Aide $58,618.56 per year $25.62 per hour Assisted Living One Bedroom; Single Occupancy $57,610.44 per year $4,800.87 per month Nursing Home Semi-private room $98,128.80 per year $272.58 per day Nursing Home Private Room $112,291.20 per year $311.92 per day Source: Mutual of Omaha’s Cost-of-Care Survey, conducted by LTCG, 2020. Released April 2021. Amounts shown are national averages. Costs may vary by state. Source is available upon request. Long-Term Care Insurance 6 453332
  7. 7. How Will You Pay? You could use your savings, but… • Funds may not be available when you need them • You may have to sell valued assets • Liquidating assets may trigger income taxes and result in the loss of future earnings You could rely on Medicaid, but… • It’s a program of last resort for people with limited assets • You may have to spend down your assets to qualify • The state may seek reimbursement from your estate for benefits paid to you Long-Term Care Insurance 7 453332
  8. 8. How Will You Pay? You could purchase a long-term care insurance policy, and… • Supplement your out-of-pocket expenses with policy benefits to help pay your long-term care expenses • Protect a portion of your assets so you can use them as planned • Stay connected to the things that matter most Long-Term Care Insurance 8 453332
  9. 9. Why it’s Important A long-term care insurance policy may be an important component of your overall plan for retirement. • Pays a portion of your long-term care expenses • Helps protect your retirement assets • Allows you to spend your retirement the way you planned Long-Term Care Insurance 9 453332
  10. 10. Stay-at-Home Benefits* A long-term care insurance policy provides benefits for services designed to help you stay at home as long as possible, including: • Help with household tasks, like cleaning and meal preparation • Help with personal tasks, like bathing and dressing • Services provided by a visiting nurse or home health aide • Special equipment, like a walker, wheelchair or respirator • Home modifications to enhance your ability to remain safely in your home Long-Term Care Insurance 10 453332 *One must meet/need assistance with two of the six activities of daily living, which include: eating, bathing, dressing, toileting, continence and transferring
  11. 11. Your Choice of Benefits You have the option to choose how to receive policy benefits: Cash • No elimination period to satisfy; available beginning on the first day of qualified need • Can be used to pay any cost associated with your long-term care expenses • Equal to a percentage of the policy’s home health care benefit, up to a specified amount each month Reimbursement • Benefits begin after you satisfy the policy’s elimination period • Reimburses you for actual covered expenses you incur each month, up to the maximum monthly benefit of your policy Long-Term Care Insurance 11 453332
  12. 12. Let’s Talk Together, we can tailor a long-term care insurance policy to meet your needs. J. Sadler Hayes, II NYS – LA-921183 845-639-0492 sadlerhayes@gmail.com Long-Term Care Insurance 12 453332
  13. 13. Questions? Long-term care insurance is underwritten by Mutual of Omaha Insurance Company, 3300 Mutual of Omaha Plaza, Omaha, Nebraska 68175. Policy form: LTC13 (or state equivalent) In CA, LTC09-CA, in FL, LTC13-FL, in NY, LTC13-NY. These policies have exclusions and limitations. Products may not be available in all states. For costs and further details of coverage, contact a licensed insurance agent/producer or write to the company. Benefits provided will be individual coverage, not group coverage. Mutual of Omaha Insurance Company is licensed nationwide. Long-term care insurance is not a deposit, not FDIC insured, not insured by any federal government agency, not guaranteed by the bank, not a condition of any banking activity, may lose value and the bank may not condition an extension of credit on either: 1) The consumer’s purchase of an insurance product or annuity from the bank or any of its affiliates; or 2) The consumer’s agreement not to obtain, or a prohibition on the consumer from obtaining, an insurance product or annuity from an unaffiliated entity. This is a solicitation of insurance. You may be contacted by telephone by an insurance agent/producer. Long-Term Care Insurance 13 453332

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Long-term care insurance purchased today can help provide you with the financial security you need and deserve in your retirement years. By acting today, while you are still healthy and active, you will have protection to handle whatever a long life brings! Without long-term care insurance to help meet the cost of needed long-term care services, you run the risk of depleting a lifetime of savings. With long-term care insurance, you’re in a better financial position to make the choice of what long-term care services you receive and where you receive them. PLUS, qualified long-term care insurance receives favorable income tax treatment.

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