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The Value of Long-Term Care Insurance

3 things you might not know about long-term care.

As you plan for your retirement years, you should be aware of the facts about long-term care:

The need is real - It's estimated that 70% of people over age 65 will require some period of ongoing assistance or supervision, due to physical or cognitive impairments*

The cost is high - The national average cost for one year in a nursing home exceeds $85,000

Alternate funding options are few - Medical and disability insurance do not cover long-term care and the coverage under Medicare and Medicaid is very limited.

Fortunately, long-term care insurance is a sensible way to help protect you and your family from the high cost of long-term care.

Options you may want to consider:

Standalone LTC policy.

Hybrid life insurance product with LTC** rider

Hybrid variable annuity investments vehicles with LTC rider***

*U.S. Department of Health and Human Services, National Clearinghouse for Long-Term Care Information, accessed September 25, 2009.

**Many clients recognize the importance of purchasing both life insurance and long-term care protection especially if they’re looking to address both needs in a single policy.

***You may reposition a portion of your non-qualified assets to generate long-term care benefits. Your benefit has the potential to grow while your investment options perform. Please contact us for more details and information to request prospectuses that are specific to the product. or call our office 800-560-1988

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