Long-Term Care Self Insurance  

Nobody wants to think about the possibility of needing long-term care. But if, somewhere down the line, you and/or your spouse do need assistance, will you have the funds available to pay for care? How much will an extended stay in a nursing facility or care received in your own home cost? Will you be able to meet this cost and still pay your and/or your spouse’s personal living expenses? Will there be enough left over to provide an inheritance for your loved ones or your favorite charity? Does it make sense to self-insure when private long-term care coverage is available? This calculator will assist you in answering these questions.

     

What is your current age?

At what age do you want to assume that you begin to use long-term-care services?

What inflation rate for long-term-care services do you wish to assume?

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What is the current daily cost of a nursing/long-term care facility in your area?
(The current average daily nursing home cost nationwide is $213 according to the 2012 Field Guide, National Underwriter, but in some areas of the country, and/or for a private room at a high-quality facility, the daily amount can easily exceed $300.)

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Ken Byers & Associates
7710 Shawnee Run Road • Cincinnati, OH • 45243
Phone: (513) 561-0011 • Fax: (513) 561-7275
• ken@kenbyers.com

Fee-based planning offered through CFC Agency, Inc. a State Registered Investment Advisor. Third Party Money Management offered through ValMark Advisers, Inc. a SEC Registered Investment Advisor. Securities offered through ValMark Securities, Inc., Member FINRA SIPC. 130 Springside Drive, Suite 300, Akron, Ohio 44333-2431 * 1-800-765-5201 CFC Agency, Inc., and Ken Byers & Associates are separate entities from ValMark Securities, Inc. and ValMark Advisers, Inc.


Any tax advice contained herein is of a general nature and is not intended for public dissemination. Further, you should seek specific tax advice from your tax professional before pursuing any idea contemplated herein. This advice is being provided solely as an incidental service to our business as (insurance professionals, financial planners, investment advisors).