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Covering two important needs in a single policy.

By combining your life and long term care insurance, you can get two valuable forms of protection in a single policy.

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Research indicates 70% of Americans over the age of 65 will require some form of long term care.

And did you know that the cost of a year’s stay in a nursing home can be as much as $80,000? Yet many haven't considered budgeting or saving for it. That is why our planning professionals at MutualFinancial Investment Services are now advising clients to include long term care costs into their retirement plans.

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Why combine?

This allows you to provide for a nursing home or in-home care if required, from your death benefits. If you don’t need to use it, it will be paid out to your beneficiaries when you have passed on. We will sit down with you to discuss your situation and offer guidance on what’s suitable for you.

Life insurance policies can be used to fund long term care expenses in a variety of ways:

  • Some policies have a cash value
  • Others may be sold to pay for long term care expenses
  • Some allow you to save for long term care & provide a fixed income with higher payouts

What if I already have life insurance?

If you already have a life insurance policy in place, it might be possible to change it to include long term care benefits. Our life and long term care insurance professionals will determine if that can be done and how best to go about it, or which new policy could be a perfect fit for you.

 


Check the background of investment professionals associated with this site on FINRA’s BrokerCheck.


We have Answers

Life and Long Term Insurance Frequently Asked Questions

  • What sorts of expenses does long term care insurance cover?

    What sorts of expenses does long term care insurance cover?


    The covered expenses will depends on what you buy in the policy. Long term care insurance covers traditional nursing home care, but can also include home health care, and even prescription drug benefits.

  • Why would someone need long term care insurance if he/she has a trust or a plan for Medicaid?

    Why would someone need long term care insurance if he/she has a trust or a plan for Medicaid?


    Long term care insurance is designed to protect your assets from being used to pay for health care. Having long term care insurance ensures that you do not have to sell off assets, such as a mortgage, in order to pay for care. Medicaid only starts paying when you’ve exhausted all your assets.

  • How much life insurance do I need?

    How much life insurance do I need?


    This decision depends on your personal situation and goals for your loved ones. Through an individual meeting, a MutualFinancial representative will help you determine how much life insurance you need based on current debt and your desire to provide items such as a steady income or college funds for loved ones.

  • What guidance does MutualFinancial Investment Services provide regarding life insurance plan selection?

    What guidance does MutualFinancial Investment Services provide regarding life insurance plan selection?


    Your MutualFinancial representative is with you every step of the way. Our first step is to schedule a meeting to talk about and assess your needs. Then, we will shop different carriers to find one that meets those needs.

open
What sorts of expenses does long term care insurance cover?
x
What sorts of expenses does long term care insurance cover?

The covered expenses will depends on what you buy in the policy. Long term care insurance covers traditional nursing home care, but can also include home health care, and even prescription drug benefits.

open
Why would someone need long term care insurance if he/she has a trust or a plan for Medicaid?
x
Why would someone need long term care insurance if he/she has a trust or a plan for Medicaid?

Long term care insurance is designed to protect your assets from being used to pay for health care. Having long term care insurance ensures that you do not have to sell off assets, such as a mortgage, in order to pay for care. Medicaid only starts paying when you’ve exhausted all your assets.

open
How much life insurance do I need?
x
How much life insurance do I need?

This decision depends on your personal situation and goals for your loved ones. Through an individual meeting, a MutualFinancial representative will help you determine how much life insurance you need based on current debt and your desire to provide items such as a steady income or college funds for loved ones.

open
What guidance does MutualFinancial Investment Services provide regarding life insurance plan selection?
x
What guidance does MutualFinancial Investment Services provide regarding life insurance plan selection?

Your MutualFinancial representative is with you every step of the way. Our first step is to schedule a meeting to talk about and assess your needs. Then, we will shop different carriers to find one that meets those needs.

 

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