Long-Term Care
Long-term care planning is a crucial component of comprehensive financial planning that helps protect your assets and maintain your quality of life in later years. At Old Forge Wealth Management, we help you navigate the complex landscape of long-term care options and create strategies to protect your financial future.
What is Long-Term Care?
Long-term care encompasses a range of services that help meet medical and non-medical needs for people who cannot care for themselves for long periods. This can include:
- In-home care services
- Assisted living facilities
- Nursing home care
- Adult day care services
- Rehabilitation services
Why Plan for Long-Term Care?
- The average cost of long-term care continues to rise annually
- Medicare and health insurance typically don’t cover long-term care
- Without proper planning, care costs can quickly deplete savings
- Family caregivers often face significant emotional and financial strain
Our Long-Term Care Planning Process
Assessment
We begin by evaluating your specific situation:
- Current health status and family health history
- Existing insurance coverage
- Financial resources and goals
- Family support system
- Personal preferences for care
Strategy Development
We create customized plans that may include:
- Long-term care insurance solutions
- Hybrid insurance products
- Self-insurance strategies
- Asset-based long-term care options
- Family care coordination plans
Implementation
Our implementation process includes:
- Policy comparison and selection
- Coverage coordination
- Family communication support
Coverage Options We Consider
Traditional Insurance
- Comprehensive coverage options
- Customizable benefit periods
- Inflation protection options
- Various elimination periods
- Flexible payment options
Hybrid Products
- Life insurance with long-term care benefits
- Annuities with long-term care riders
- Return of premium options
- Death benefit preservation
- Asset-based solutions
Self-Insurance Strategies
- Investment allocation strategies
- Asset earmarking
- Cash flow planning
- Risk management
- Tax-efficient funding methods
Our Value Proposition
Expert Guidance
- Comprehensive needs analysis
- Product comparison and selection
- Ongoing policy review
Cost Management
- Premium analysis
- Benefit optimization
- Tax considerations
- Cost-sharing strategies
- Budget integration
Family Support
- Family meeting facilitation
- Resource identification
- Communication support
- Decision guidance
Let's Get Started
Contact us to learn how our Long-Term Care Planning services can help protect your assets and provide peace of mind for your future care needs.
- The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor.
- The views expressed in this commentary are subject to change based on market and other conditions. These documents may contain certain statements that may be deemed forward‐looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur.
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