1. By Vector Wealth Management

2. Introduction
 Vector Wealth Management provides personalized
financial services to clients from a variety of
backgrounds and financial situations. By providing
sound financial strategies and individualized advice
for managing assets and savings, Vector Wealth
Management helps individuals build strong financial
futures. Additionally, Vector Wealth regularly advises
clients on how to prepare for the possibility of
requiring long-term care.

3. About Long-Term Care Policies
 Long-term care (LTC) policies are too often sold and
not purchased- by this I mean that unless an
individual fully understands how this product will fit
into their financial lives it is highly likely they may
over-purchase a benefit. To use an extreme example, if
an individual has $10 million dollars in assets and only
needs $50,000 to live on each year do they need long
term care insurance? Absolutely not! Long term care
insurance is primarily an asset protection/retirement
plan stability strategy.

4. LTC Insurance
 LTC insurance is a reasonable product to consider.
Long-term care can be quite expensive for individuals
who are not adequately insured. The average cost in
2013 for a private room in a nursing home was $83,950
for the year. The average cost for a room in an assisted
living facility was $41,400 that same year. Nearly 70%
of people will need long-term care of some type during
their lifetimes, according to the Department of Health
and Human Services. The most important question is
“are we self-insured or do we need to partially or fully
fund this possibility with an LTC policy?

5. Conclusion
 It is best to consider this type of insurance before
retirement age. The older a person is at the time of
enrollment in a plan, the more expensive it will be;
some folks are even denied coverage. The most
important step is to talk with an advisor who fully
understands you financial situation to first determine
how much, if any is appropriate to protect your
retirement plan stability.