Asset Based Long-Term Care Coverage Gives You The Power Of Leverage

long-term care coverage

Leverage is something most business people and investors know about and seek to achieve.

It is a powerful advantage. Yet, as a financial advisor, some very intelligent people I have met talk about how they intend to forego obtaining long-term care coverage because they think either they won’t need it, it’s too expensive or that they have enough assets to cover anything that might happen.

I always caution these people to consider a few things: First is that no one knows how their life will unfold. Secondly, I share examples of people who were certain their assets would cover any given scenario who were wiped out by long-term care costs. And, even more importantly I then tell them about the power of leverage that asset based long-term care coverage provides.

One point I want to be very clear about though is that the value of your assets should have no bearing whatsoever on your decision to obtain long-term care coverage. The wealthiest people in the country wouldn’t think of being without long-term care coverage. And these are people who probably could afford to self-insure, but they wouldn’t dream of not insuring when they can leverage.

Asset Based long-term care coverage gives you powerful leverage.

Whenever you can leverage your assets that’s always a good thing. Long term care coverage helps you meet or exceed the costs of care while keeping your assets. It doesn’t make any sense not to leverage when you can.

Asset based plans work like the ultimate savings account. The money is guaranteed to grow at a set rate. You have access to this money if needed, and if you need long-term care, you will get a multiple of the initial deposit back tax-free. When properly designed, these plans can potentially cost you nothing and can provide an unlimited amount of long-term care benefits.

Once you become educated about how asset based long-term care coverage works versus traditional long-term care coverage you would never choose either to self-insure or to forgo coverage for any reason. And if you ever encounter a financial advisor who advises you to self-insure, please walk away immediately and quickly.

At Red Feather Financial we work to preserve your financial freedom with the most powerful products available. If you’d like to find out more about the power of asset based long-term care coverage, give us a call today.

“Investment Advisory Services offered through Center Street Advisors, Inc. (CSA), an SEC Registered Investment Advisor. Red Feather Financial and CSA are independent.”
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Investment Advice offered through William Joseph Capital Management, LLC, a Registered Investment Advisory Firm (RIA) registered with the U.S. Securities and Exchange Commission (SEC). Lower fees for comparable services may be available from other sources. Sabrina Scott is an Investment Advisor representative of William Joseph Capital Management, LLC. Red Feather Financial and its representatives provide insurance services separate from William Joseph Capital Management LLC. Red Feather Financial is not affiliated with William Joseph Capital Management LLC.