Long-Term Care Insurance

The greatest gift of long-term care insurance is that it allows loved ones to supervise your care and not have to provide your care.

Long-term care (LTC) insurance goes beyond medical care to include all the assistance you could need if you ever have a chronic illness or disability that leaves you unable to care for yourself for an extended period of time (longer than 90 days). While older people generally require the most long-term care services, a young or middle-aged person who has suffered a debilitating illness or accident may also require care.

Some particulars for you to consider are:

• There are multiple ways to fund your long-term care plan and each option provides different areas of flexibility and benefits
• Most long-term care policies sold today are federally tax qualified, so premiums paid and out-of-pocket expenses are typically deductible.
• Long-term care benefits received are, in general, not taxed as income up to certain limits.

Every situation is different, so planning in advance with your family members and financial advisor is important. Contact an advisor with Park Financial Advisors to begin the conversation and understand the cost and options available to you.

This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. Guarantees are based on the claims paying ability of the issuing company.