Long-Term Care Self Insurance  

Nobody wants to think about the possibility of needing long-term care. But if, somewhere down the line, you and/or your spouse do need assistance, will you have the funds available to pay for care? How much will an extended stay in a nursing facility or care received in your own home cost? Will you be able to meet this cost and still pay your and/or your spouse’s personal living expenses? Will there be enough left over to provide an inheritance for your loved ones or your favorite charity? Does it make sense to self-insure when private long-term care coverage is available? This calculator will assist you in answering these questions.

     

What is your current age?

At what age do you want to assume that you begin to use long-term-care services?

What inflation rate for long-term-care services do you wish to assume?

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What is the current daily cost of a nursing/long-term care facility in your area?
(The current average daily nursing home cost nationwide is $213 according to the 2012 Field Guide, National Underwriter, but in some areas of the country, and/or for a private room at a high-quality facility, the daily amount can easily exceed $300.)

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FREEDOM Financial Advisors LLC Estate, Tax and Wealth Management
132 Farnsworth Ave • Bordentown, NJ • 08505
Phone: 609-291-8363 • Fax: 609-291-5580
• dave@ffadvisors.com

David Workman is a registered representative, registered to transact business with clients in New Jersey, and Pennsylvania, Delaware, Virginia, Indiana, Illinois, New York, North Carolina and Alabama. David is advisory licensed in the following states.New Jersey, Pennsylvania, Virginia, Alabama, New York. David is also an insurance agent licensed in New Jersey, Pennsylvania, and Delaware.

Thomas Xenakis is a registered representative, registered to transact business with clients in New Jersey and Pennsylvania. Thomas is advisory licensed in New Jersey and Pennsylvania. Thomas is also an insurance agent licensed in New Jersey.

If you are not a resident of the states noted above, all investment-related information on this site is for informational purposes only and does not constitute a solicitation or offer to sell securities or insurance services over the internet. Securities offered through H.D. Vest Investment ServicesSM, Member: SIPC, Advisory Services offered through H.D. Vest Advisory Services SM, 6333 North State Highway 161, Fourth Floor, Irving, TX 75038, 972-870-6000.

Investments & Insurance Products: are not insured by the FDIC or any federal government agency, are not deposits of or guaranteed by the bank or any bank affiliate, and may lose Value.

Freedom Financial Advisors is not a registered broker/dealer or independent investment advisory firm.