Crash Proof Retirement Reviews: The Overlooked Crisis of Long-Term Care & the Affordable Solution

Crash Proof Retirement Reviews: The Overlooked Crisis of Long-Term Care & the Affordable Solution

Good news: Baby Boomers are living longer, healthier lives than ever before. Thanks to advancements in medicine, the average life expectancy has significantly increased. In 1950, the average life expectancy in the United States was approximately 68 years. Today, Americans live to an average of over 79 years old, according to data from The United Nations.

While Americans are enjoying increased longevity, they face unique challenges in ensuring their retirement nest eggs last throughout an extended retirement. The most overlooked challenge? Long-Term Care (LTC) planning.

According to the U.S. Department of Health and Human Services, nearly 70% of individuals turning 65 today will require some form of long-term care services in their lifetime. The average duration of long-term care is approximately three years, with 20% needing care for over five years. The cost? Over $300,000 per person for three years of nursing home care, with rates steadily increasing.

Failing to plan for these inevitable expenses can devastate an estate, leaving individuals and their families financially vulnerable during the final stages of life.

The Financial Burden of Long-Term Care

Despite the clear need, less than 10% of Americans have a long-term care plan in place. A primary reason? Many assume that Medicare will cover these costs. However, Medicare only covers short-term skilled nursing care (up to 100 days) and does not provide coverage for custodial care—the most common type of long-term care required.

Consider these sobering statistics from Genworth and The Federal Government:

• The national median cost for a private room in a nursing home is $108,405 per year (as of 2024), and costs are rising annually.
• Assisted living facilities average $64,200 per year.
• The cost of a home health aide, which includes “hands-on” personal assistance with activities such as bathing, dressing, and eating, has increased 10.0% to an annual median cost of $75,500.
• The U.S. population aged 65+ is expected to increase by 10,000 people per day until 2030, further increasing demand and costs.
• Over 50% of seniors do not have any form of long-term care insurance.
• Women are more likely to need long-term care (80% of women aged 65+ will require LTC compared to 60% of men).

With these staggering costs, many retirees find themselves depleting their life savings or relying on family members for financial support—an outcome that can be avoided with proper planning.

The Solution: Asset-Based Long-Term Care (LTC)

In the past, traditional long-term care insurance required high premiums that could increase over time. If the policyholder never needed care, the premiums were simply lost.

However, a revolutionary new approach, Asset-Based Long-Term Care, eliminates this risk while providing guaranteed benefits. This strategy allows individuals to leverage existing assets to secure long-term care protection without paying annual premiums.

How Asset-Based LTC Works

By repositioning an asset, such as savings, a CD, or an underperforming investment account, like a stock, bond, or mutual fund, individuals can create a tax-advantaged long-term care plan that provides benefits far exceeding the original deposit.

Example that we’ve seen:

• A 65-year-old couple transfers $100,000 into an Asset-Based Long-Term Care contract.
• Immediately upon transfer, their long-term care benefit increases to approximately $460,000.
• For a single individual, the benefit balloons to approximately $550,000.
• If long-term care is never needed, the remaining contract value is passed on to beneficiaries as a tax-free inheritance.

Unlike traditional policies, some Asset-Based LTC policies offer return-of-premium guarantees, meaning that if the funds are never used for long-term care, they can be withdrawn or passed on to heirs.

The Biggest Advantage: Aging in Place

Perhaps the most attractive feature of Asset-Based LTC is the ability to receive care in the comfort of your own home. Studies show that nearly 90% of seniors prefer to “age in place” rather than move to a nursing home. Asset-Based LTC allows retirees to do just that—receive professional care at home, without financially burdening family members or depleting their estate.

Additional Benefits:

• More liberal health qualifications compared to traditional LTC policies.
• No annual premiums – a one-time asset transfer provides lifelong benefits.
• Protects estate assets from being drained by long-term care costs.
• Spousal benefits – ensuring financial security for both partners.
• Peace of mind knowing long-term care needs are covered without financial stress.
• Flexibility in care choices, including in-home nursing, assisted living, and hospice care.

Why Crash Proof Retirement Clients love Asset-Based LTC

The late founder of Crash Proof Retirement, Phillip J. Cannella III began his mission to protect retirees because he saw first hand how a long-term care event devastated his grandfather’s estate. As a pioneer of long-term care in the 70s and 80s, Phil Cannella took great care to ensure that Asset-Based Long-Term Care is always available as part of the Exclusive Crash Proof Retirement System. Why? Because it aligns with the principles of preserving wealth, erasing risk, and eliminating unnecessary financial burdens.

The President of Crash Proof Retirement, Phil’s widow and long time business partner, Joann Small-Cannella explains how important Asset-Based Long-Term Care is and how it has worked for our clients.

Crash Proof Retirement Reviews from clients who enjoy Asset-Based Long-Term Care have said that these contracts:

• Enhance estate preservation.
• Help maximize their retirement income while protecting assets.
• Provide a liquidity advantage—allowing control over their funds.
• Ensure tax efficiency, as many LTC benefits are tax-free.

The bottom line is Asset-Based Long-Term Care represents a risk-free, guaranteed solution to one of the biggest financial concerns in retirement.

Final Thoughts: The Importance of Planning Now

Long-term care is not a “luxury”—it is a necessity. With nearly 70% of Baby Boomers expected to require care, ignoring the issue can lead to severe financial and emotional hardship, not just for you but for your loved ones.

For retirees, one of the greatest advantages is ensuring that family members and friends are not burdened with caregiving responsibilities. Without a proper long-term care plan, loved ones often find themselves taking on the role of caregiver—handling daily tasks such as bathing, dressing, and managing medications.

By securing Asset-Based Long-Term Care, individuals can allow professional caregivers to handle medical and personal care, so that family members can focus on what truly matters—spending quality time together, providing you love and support as you fight your health challenges.  Ensuring that your loved ones can spend their time with you—rather than being overwhelmed by caregiving responsibilities—is one of the most invaluable gifts you can provide through proper planning.

For those looking to protect their financial future while ensuring access to high-quality care, Asset-Based Long-Term Care is a game-changing solution. Don’t wait—start planning today!