Long-term Care - Long Term Care Insurance

Long Term Care (LTC), Critical & Chronic Illness Strategy

Tusk Financial Risk Management Insurance

Unlike traditional health insurance, long-term care insurance covers long-term services and supports, including personal and custodial care in various settings such as your home, a community organization, or other facilities. Our planning aims to provide clients with a choice in their care.

TUSK chronic illness planning may simply document a product to address the financial concerns. Additionally, we create action plans that we review annually during client service.

TUSK prefers Long Term Care Planning to be low-cost or free. We have not sold a Long Term Care policy in over 7 years. Why? Simple, there are better products today. Long-term care policies only pay if you get sick, and if you do not get sick, the premiums paid are lost.

Today we have products and strategies that create leverage and guarantee the return of principal. We prefer the tax-free income paid during an illness event and paid to you directly over the reimbursement type of policy.

We believe that the current illness benefits will continue to be reduced. These products were not created initially to support the level of claims made. The industry has been consolidating, the premiums increasing for standalone Long Term Care policies, on an unlimited basis, allowed by law, to keep the insurance companies in the business.

Long-term care insurance policies reimburse policyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of daily living such as bathing, dressing, or eating. You can select a range of care options and benefits to get the services you need where you need them.

We have never had a client who gets to pick what illness they get.

I have never had a client waiting by the door with bags packed, ready to go to a nursing home.

How to pay for care is a financial concern, but who will administer care and where?

TUSK creates the plans regardless of the funding source.

The National Association of Insurance Commissioners publication lists and defines six ADLs:

Bathing: The ability to sponge bathe or get in and out of the bathtub or shower.
Eating: The ability to feed oneself by getting food into the body or by a feeding tube.
Continence: The ability to maintain control of bladder and bowel functions.
Toileting: The ability to get to and from the toilet and perform associated personal hygiene.
Dressing: The ability to put on and remove all clothing items and any braces or artificial limbs.
Transferring: The ability to get in and out of bed, chair, or wheelchair. A person qualifies for benefits when they cannot perform two or three ADLs, depending on the long-term care insurance policy.

TUSK client service meetings create the plans before things happen.

Our critical illness planning takes the guesswork out of the situation, and our client's quality of life is preserved.

All illnesses have one thing in common: they are expenses not anticipated.

TUSK proactively measures the risk of financial impact, illness, or disability that could impact your estate. Many of our clients can self-insure, and they will not outlive their nest egg, no matter how prolonged care may be needed. Some clients can not afford to get sick. Both clients have plans, so we have planned for the worst and hope for the best. Few things take apart estate and legacy as quickly as unexpected illness.

We build LTC and Critical illness into products that fit client direction. Products and documents.

Life insurance and guaranteed income with illness benefits built-in. Even our new term insurance products pay living benefits for critical illness, indemnity (cash to you versus reimbursement of expenses with receipts), and for those that require income, the income doubles in an LTC event. Guaranteed benefits. Leverage and tax efficiency that yield cannot keep up with. Illness, the black hole of retirement, requires proactive plans, and we believe you can't have enough free and low-cost options.

If you ever require care, you have the choice of where to receive your care. More people than ever, with planning, are avoiding the nursing home, and it is only expensive if you plan wrong.

We find the low-cost LTC in places most advisories don't know to exist! Working with estate attorneys as part of your team is TUSK Life.

Long Term Care (LTC), Critical & Chronic Illness Strategy

TUSK client service meetings create the plans before things happen.

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