Too many Americans worry about running out of money once they retire. People watch the markets and see their savings go up and down, depending on how the market performed each day. By the time they realize that long-term care can dramatically impact their savings, income, lifestyle, and legacy often, it is too late to plan.

This was the message relayed to financial professions by one of the country's leading experts in long-term care planning. Matt McCann explained that the responsibility of future caregiving should not be placed on families. He adds paid care is expensive, but depending on savings to pay for future care is not the best strategy.

"We never know what the market will do month to month or year to year. None of us can time market corrections, nor can we time when we need long-term care services. We need guaranteed benefits in order to safeguard our retirement savings and income due to the financial costs and burdens of aging.

McCann notes that an individual's good health gives them the ability to plan in advance. For many people, an affordable Long-Term Care Insurance policy is the answer to providing tax-free resources to pay for your choice of quality care in your own home or in a facility. These policies work, but you must put one in place before your health changes.

"A recent study released by the American Association for Long-Term Care Insurance says the risk of being declined for Long-Term Care Insurance coverage increases with age. This makes sense. Even younger people may get declined. Twenty-one percent of those people in their 50s get rejected for new coverage. Once you get in your 70s, we see 44% get declined and over half over age 75. The message is clear, plan when you still enjoy good health," McCann explained.

It is folly to think self-insuring the risk of longevity makes sense. Even if you had enough money, you wouldn't be able to time your need for care. You might be selling assets at a loss, and that loss could still be a capital gain for tax purposes. Plus, you are still using your own money. McCann says there is a better solution.

"The easy and affordable way to protect savings from the costs and related burdens of longevity is affordable Long-Term Care Insurance. The best time to plan is in your 40s and 50s. As you get older, your risk of decline because of your health or even family history increase. Plus, premiums are based in part on your health and your age at the time of application," McCann said.

McCann recommends consumers work with an experienced and qualified Long-Term Care Insurance specialist to help them in their research, shopping, and policy design. 

Most financial advisors and general insurance agents lack expertise in long-term care. A specialist will match you with the best coverage at the best value. Working with a specialist will save a family a substantial amount of money. 

Premiums vary dramatically between insurance companies for the same benefits. Also, underwriting criteria differs between companies. 

McCann is licensed nationwide and uses a unique process that allows an individual or couple to view his computer screen on their own 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.

He says getting accurate quotes is essential to your research in obtaining coverage. 

McCann suggests several online resources to help you find the best coverage for you and your family. The Long-Term Care Insurance Guide is very detailed and provides an excellent base of knowledge. Just click here to read the guide: https://www.ltcnews.com/resources/guides/the-ultimate-long-term-care-insurance-guide

There are also many resources available on McCann's comprehensive website: https://mccannltc.net/resources. His website 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.