Most Millennials be like, “Why are you talking to me about Long-Term Care Planning, I am decades away from having to worry about that.” Here’s the deal, if your parents haven’t planned for Long-Term Care this issue may affect you physically, emotionally and financially a lot sooner than you may think. True story: Talked to family this week and was told parents had purchased Long-Term Care Insurance years ago. Good Job! Unfortunately many years ago Long-Term Care Policies had little if any home health care coverage.This fact resulted in parents having to seek an institutional setting for their care. Policy had a 90 day elimination period which is common. This means that the family is on the hook for the first 90 days of care ($12,000 – $15,000 in our area). Kids were shocked to find out no body thought of this and they were being asked to hit their hip for this expense. Solution: Have the conversation early and seek answers to these and many more Long-Term Care Planning questions. Contact us at 704-523-1911 or Sales@SoutheasternBrokerageGroup.com. It does not cost you a thing to ask questions.
