You have likely seen the statistics that talk about the risk of needing long-term care as you age. And like most, you’ve told yourself “It will never happen to me.” You may very well be right. But what if you’re not? Rather than focus on the risk of an event happening to you, take a moment to consider the consequences that providing care over an extended period of years would have on the emotional, physical, and financial well being of those you have promised to take care of.

Now more than ever it is imperative to understand the law and to have a plan in place to protect your loved ones and your assets and income. Many people believe that a federal program such as Medicare or Medicaid or the VA, if they are veterans, will pay for their care. These programs primarily cover medical procedures or rehabilitative care. Long-term care, however, requires custodial care, which is defined as the assistance or supervision that a person who is physically or cognitively impaired needs in order to get through the day. With few exceptions, no federal or state program will pay for custodial assistance over an extended period of years. The family therefore is forced to pay out of pocket.

Guarantees are based on the claims paying ability of the issuing company.