Long-term care - Myths that create a false sense of security
When it comes to Long-term care there are myths that create a false sense of security.
Many Americans don’t seek professional advice about planning, because they have misconceptions about long-term care. Consequently, these individuals may eventually confront the realities of the risks when long-term care situation suddenly arises in their family. At that point, they only have time to react, rather than respond, to a logical plan of action. So, it is important to recognize that the misconceptions may lead to complacency. Four Myths are:
Many people understand the importance of planning for long-term care expenses, but in reality, they may postpone it and risk being unprepared.
An example of a one of the planning options is Life Insurance with Accelerated Benefits riders. It combines life insurance with access to death benefits, which depending in the rider, may be used for long-term care expenses in your home or a facility. For more information about Long-term care planning options and asset protection contact LC Advisor for information and facts.
