Long-Term Care Planning
Protecting your retirement nest egg from the rising costs of healthcare.
of people turning 65 can expect to use some form of long-term care.
Average annual cost of a private room in a Connecticut nursing home.
Amount of long-term custodial care covered by Medicare.
The Biggest Risk to Retirement
Many people spend decades saving for retirement, only to see those savings drained rapidly by a health event requiring long-term care.
Contrary to popular belief, Medicare does not cover long-term care (custodial care helping with activities of daily living like bathing, dressing, and eating). Medicaid only kicks in once you have spent down nearly all of your assets.
Planning for LTC isn't just about insurance; it's about control. It ensures you can choose where you receive care (often at home) and that you don't become a burden on your children.
Illustrative Cost Impact
*Based on projected CT costs. Without coverage, a lifetime of savings can disappear in a few years.
Modern Solutions
Pure insurance protection. You pay a premium, and if you need care, it pays a daily or monthly benefit. This often provides the most leverage for your premium dollar.
A life insurance policy with a rider for LTC. If you need care, you use the death benefit while alive. If you die peacefully in your sleep, your heirs get the death benefit. No "use it or lose it" risk.
Repositioning a stagnant asset (like a CD or annuity) into a vehicle that provides tax-free benefits for long-term care, often with a return of premium guarantee.
For high-net-worth clients, we analyze whether self-insuring makes sense. We stress-test your portfolio against projected care costs to see if it holds up.