When we were young most of us could not wait to become independent and take control of our lives. As we get older, we want to be able to maintain our independence. According to a leading expert on long-term care planning, having an advance plan for the financial costs and burdens of aging has become an essential part of avoiding dependence on others.
"The consequences of aging have created a multitude of problems for American families that affect every generation. The problem gets multiplied since too many people ignore the subject until few if any solutions are available," said Matt McCann, one of the nation's top Long-Term Care Insurance specialists.
Speaking to insurance and financial professionals, McCann explained long-term care is really about dependency. The definition explains it all: "The state of relying on or being controlled by someone or something else."
He says preparing for the financial costs and burdens of aging is an essential part of retirement planning. McCann explained that people understand the costs of long-term care services are expensive.
"Too many fail to plan since they don't think it will happen to them, or they believe their family will be able to take care of them. This denial of reality creates stress and burden on family members," McCann said.
He points out that many people don't want to think about a time where we will need the help and support of another person due to an illness, accident, or the impact of getting older. Many people easily ignore the thought about having a son or daughter being responsible for caregiving or managing care because it doesn't make us feel good.
"The consequences of failing to plan for this reality will impact family and finances. None of us want to be dependent on anyone, much less a loved one. Advance planning reduces this dependence by putting you in control. You get to decide how and where you will receive care in the decades ahead," McCann explains.
Family members usually don't have the skills required to be caregivers, but it goes beyond an ability to provide the care. McCann says there is a physical, emotional, and financial burden placed on the family when they become caregivers.
Affordable Long-Term Care Insurance provides you with the resources so you can keep control. You will have your choice of quality care in the setting you desire. McCann said an LTC policy pays for care either in your own home or in a quality facility.
"With a Long-Term Care Insurance policy in place, your family will have the time to be family. You will enjoy income and asset protection so you can maintain lifestyle and legacy. The good news is today's Long-Term Care Insurance is easy, affordable, and rate stable income and asset protection," he said.
Ideally, start planning before your retirement, preferably in your 40s or 50s, when premiums are very affordable. McCann is licensed nationally and represents the major insurance companies. As a specialist, he matches your age, health, family history, and other considerations to shop all the top companies to find you the best options at the best value. Since premiums can vary over 100%, he will save you money in the process.
His unique process allows an individual or couple to view McCann's computer screen on their computer while speaking to him on the phone. It's an easy and pressure-free way to learn and compare all the options from all the companies.
McCann recommends several online resources to assist in your research. He recommends this online guide to long-term care planning - https://www.ltcnews.com/resources/guides/the-ultimate-long-term-care-insurance-guide.
There are also many resources available on McCann's comprehensive website: www.mccannltc.net/resources. His site also features a link to obtain free and accurate quotes from all the major companies.
McCann also works with financial advisors, insurance agents, and professionals like accountants to help their clients plan for longevity.