Retirement and Estate Planning Should Include Long Term Care Insurance

By Compuquotes Team on March 27th, 2008

Long Term Care

You have labored many years and now that retirement is on the horizon, you want to make sure all your ducks are in a row. Retirement and estate planning is important in so many aspects, yet many people don't plan it well or plan it at all. There are a lot of considerations that need to be taken into account when planning an estate and for retirement planning. You do not however want to forgo this because there is some work involved, and you may even need expert guidance in your retirement and estate planning. Not having this carefully planned could leave you without the funds you need for the retirement lifestyle you want, for extended care and medical costs, to cover final expenses, and to leave your heirs an inheritance.

People are living longer these days. This is wonderful if you are able to live longer without ever having to put up with the diseases and injuries that older people are more susceptible to. How glorious it would be if you were the extraordinarily lucky person who never needs extended care as an older adult, and who passes away peacefully in your sleep without the need for doctors or nurses to be present. But let's be real, what are the chances of that happening for most of us? And do you really want to leave such an important concern to chance anyway? Wouldn't you rather have the security of having long term care insurance if and when you need it? If you were lucky enough to never need it, this would be added to the inheritance left for your heirs.

Long term care insurance gives you peace of mind knowing that you could afford the extended care you need without having to use life insurance meant to cover final expenses to ensure you get the quality, compassionate care you need and deserve. Most of us do not want to burden the loved ones we leave behind with having to pay our final expenses and this is why many of us have life insurance. The average funeral costs more than $8000 today, not a debt we want to saddle our families with. Long term care insurance can safeguard the funds held in your life insurance policy to pay your final expenses and any remaining monies in either life or long term care insurances are added to your estate.

Long term care insurance protects the nest egg that you have built up through years of work to retire on. The majority of your nest egg can be used to finance the retirement you dreamed of all those years while you labored hard. Long term care insurance isn't all that expensive and can save you and your estate thousands of dollars in the long run. You need to shop around and do some comparisons between different long term insurance programs to find the one that will be the best for you and your spouse.

You may be somewhat concerned about the expense of getting some expert guidance for your retirement and estate planning. But let me tell you that the knowledge that these experts possess can help you build an unshakable retirement and estate plan that you can feel secure about having as you move towards enjoying the rich retirement you so well deserve. You have earned these leisure years and they shouldn't be marred by not having plans such as long term care insurance in place.

Smart retirement and estate planning should include long term care insurance. Planning ahead for any eventually that may come, frees you to just enjoy living a long and happy life.

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