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Crash Proof Retirement ® Announces New Long-Term Care Strategy

Crash Proof Retirement ® Announces New Long-Term Care Strategy

King of Prussia, PA – Long-term care insurance is a smart investment to help retirees pay for custodial care at home or stays at nursing homes or assisted living facilities. Government statistics show that Americans turning 65 today have an almost 70% chance of needing some sort of long-term care in their future.

Unfortunately, millions of Americans lack this crucial insurance, meaning they’d experience sizable bills that could drain their retirement savings.

Crash Proof Retirement ®® is now offering an asset-based long-term care program through various insurance carriers. It is the answer to providing coverage for long-term care expenses without paying an annual premium. By leveraging an asset, such as a savings account, or an investment account, when long-term care is needed, the asset chosen to be leveraged will balloon to more than three times the original asset value.

For example, say a married couple at 65 years of age, transfers $100,000 from an investment account into an asset-based long-term care contract. Upon receipt, it immediately becomes, from day one, $460,000 dollars of long-term care benefit for both husband and wife when needed. For individuals the $100,000 would balloon to $550,000.

And, if it turns out you don’t need long-term care, your beneficiaries would receive the remaining contract value – allowing you to pass on a legacy instead of a stack of bills.

“Not planning for long-term care is denying yourself a comfortable transition in the final stages of life and having expenses that may impoverish your estate,” said Phil Cannella, Founder of Crash Proof Retirement ®® and host of the Crash Proof Retirement Show ®® airing on CBS radio.

“What you’re really doing is preserving your estate, rather than spending down your hard-earned nest egg. It’s about having peace-of-mind during your Golden Years, which is priceless,” said Cannella.

Perhaps the most attractive part of asset-based care is what experts are calling “aging in place” – staying in the comfort of your own home and receiving what’s known as custodial care, assistance with the daily living activities of bathing, dressing and eating – something that Medicare does not cover.

To sum things up, asset-based long-term care is the best way to get the care you need while protecting your assets and maintaining the same quality of life during retirement, as you did your working years. These types of contracts require medical exams and age is a determining factor for benefits. So, the sooner you start planning for it, the better off you’ll be.

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