Women Wealth & Wisdom |
Establishing the Foundations for Long Term Care
Whether living alone, or with a partner, long-term care is an important concern for any woman. Since U.S. Census 2008 reports show that most women will eventually outlive their husbands – living an average of 7 years longer than men – thinking about long-term care is a significant part of a woman’s retirement plan.
Since most men will be survived by their wives they rarely have to consider long-term care, knowing that their wives will be there to take care of them. The U.S. Census Bureau 2005 shows that women are twice as likely as men to be living alone after age 65, making them more vulnerable to their health care needs. As a result, women are far more likely to need long-term health care than men.
According to life insurance providers, long-term care costs are rarely covered by regular medical coverage and even Medicare offers only some coverage. Rather than risk spending your retirement savings on health care, investing in a long-term care plan now can make sure your golden years are comfortable.
Building a retirement and life insurance plan without considering long-term care won’t protect you in the event that you require ongoing assistance in the future. With a long-term care insurance plan, your savings and other retirement investments will be safe from long-term care expenses.
By protecting your future with a long-term care plan, you will have more direct control over the treatment you receive in the future. Rather than leaving home for care, you will be able to stay close to family and friends and determine the care plan that works for you.
It is also important to act now. Most long-term care plans require medical tests and other qualifying standards, which means waiting too long might disqualify you. Talk with a professional about your long-term care needs and make sure that you take the right steps to help ensure a comfortable future.
Useful Resources & Links:
AXA Equitable Life Insurance Company (AXA Equitable) (NY, NY)
Securities are offered through AXA Advisors, LLC, member FINRA, and SIPC. AXA Advisors, AXA Network and AXA Equitable are its affiliates.
Investments are subject to market risk, will fluctuate and may lose value.
Please be advised that this document is not intended as legal or tax advice. Accordingly, any tax information provided in this document is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. The tax information was written to support the promotion or marketing of the transaction(s) or matter(s) addressed and you should seek advice based on your particular circumstances from and independent tax advisor.
