What is Long Term Care Insurance?
According to the U.S. Department of Health and Human Services, 70% of people over the age of 65 will need some type of extended care/long term care, care.
Long term care insurance provides the funds$$$ to help your family better and longer.
If you are self funding out of your pocket today it will cost you $2,000-$16,000 per month for adult day care, board and care, in home care, senior living.. Etc…
”Think of Long Term Care Insurance as your life preserver...
-It preserves cash flow
-It preserves the lifestyle of the spouse that is not under care
-It preserves your adult children’s family life of being a dad & husband
-It preserves your adult children’s ability to work a full schedule and have no disruption
-It can preserve your adult children’s cash flow! If parents did plan or obtain long term care insurance, the parent’s at the last minute might ask their adult children to self fund!?
-It preserves the lifestyle of the spouse that is not under care
-It preserves your adult children’s family life of being a dad & husband
-It preserves your adult children’s ability to work a full schedule and have no disruption
-It can preserve your adult children’s cash flow! If parents did plan or obtain long term care insurance, the parent’s at the last minute might ask their adult children to self fund!?
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The sweet spot age frame to purchase long term care insurance is between 30-65
It is a lot like planning for retirement. Let’s say you purchase your LTCi policy when you are 50 and you will be paying premiums over the next 30 years. The average claim age is 80 years of age.
Sample policy of a customer… Age 53 and in perfect health.
When this person needs the policy… let’s say when they are 83, it will pay $9,710 per month for 5 years!! The swimming pool of money he can use is $582,539!!!
Can you guess what the premium is???
$156.75 Per month
Not a lot when you consider what you’re getting!!
Lastly, when the monthly benefit is paid for care, your premiums stop.
This sweet spot to purchase 30-65 is because you are never as young or as healthy as you are today.
If you wait to purchase until your mid 60s to late 60s, premiums go up 30%, if you wait to purchase in your 70s, the premiums go up 50%. If you have 2 of the 6 activities of daily living in play…. You are uninsurable
”“When I was young, I had a relative who spent 100s of thousands of dollars on long term care/extended care services over 3 years which had a huge impact on me.”
Scott Jackson specializes in Long Term Care Insurance.
CA Lic. # 0G44859
Local Orange County resident Scott Jackson has lived in North Tustin area most of his life. Born in Orange, CA, he attended Arroyo, Hewes, and Foothill High School.
Tennis has been his passion since he was 6 – he even played two years of college tennis in Colorado. He has switched to pickle ball and one of his biggest passions is golf! Favorite places to play are Palm Desert and Hawaii.
Scott is married to Lily Klee and have a 16 year old step daughter, Katelyn, who attends Beckman High School and plays in the band.
Licenses and Professional Associations
- Licensed Professional Long Term Care Insurance
- CLTC Designation, Certified Long Term Care Consultant
- Licensed Professional, Life Insurance
- Licensed Professional, Income Replacement (Disability Insurance)
- BNI
- BNI Ambassador
- Irvine Chamber Ambassador
Value Added Options
Extended care is not a place or a condition, it is a life-changing event as well as a family issue. Find out more here.
You never know what life may bring… ask Scott “Action” Jackson about life insurance options. Tap here for more info.
If you were sick or injured and couldn’t work could you Cover Your MUG – Mortgage, Utilities, and Groceries? “Action” Jackson has a solution. Tap here.Married Couples
When you purchase long term care insurance as a couple and you are on the same application, you receive 30% off your premiums!
For Business Owners
Long term care insurance loves business owners! Get that corporate check book out and have your business pay for a LTCI policy for you and your spouse and your business can deduct it!
Another Option
Life insurance with a long term care rider! (The rider means extra insurance but only one policy not two – a good thing!) Good time to purchase this type of policy is in your 20s, 30s, and 40s. Ask Scott for details.
We even have life insurance with long term care rider policies that pay you $cash$ with no tax ramifications.
Working with “Action Jackson”
- Scott Jackson has a CLTC designation, a certification for long term care insurance
- 11 Carriers to choose from, makes choosing the best carrier for individual situations easy!
- Scott practices what he preaches – he has a traditional policy, and for back up he has a life insurance policy with a LTC rider. All in all, Scott has $750,000 worth of long term care insurance