openPR Logo
Press release

Long-Term Care Partnership Program - America's Big Retirement Secret

Matt McCann - Long-Term Care Specialist

Matt McCann - Long-Term Care Specialist

As the country becomes older more and more people are focused on retirement planning. Generation X and Late Boomers are aging in mass and joining the remaining Baby Boomers who are still enjoying longevity. For those who are age 40 and older it is essential to have a solid plan to enjoy a successful future retirement. However, too many American families ignore perhaps the biggest challenge, how to address the high costs and burdens that come with getting older.

Speaking recently to financial professionals in Grand Rapids, Matt McCann, a nationally known specialist in Long-Term Care Insurance and long-term care planning, said too many insurance agents and financial advisors are unaware of an easy and affordable way to protect a family's savings from the costs of long-term health care.

"Many Americans, including those who should know, are unaware of the Long-Term Care Partnership Program. 44 states have active programs in place. If an individual owns a qualified partnership Long-Term Care Insurance policy, they are eligible for dollar-for-dollar asset protection. This means the policy owners will never be forced to exhaust all their assets even if they exhaust all their insurance benefits. This allows financial professionals to design a very affordable policy which safeguards the consumer's assets. Since these policies are custom designed, you can design a plan that directly matches their financial position," McCann said.

McCann said while too many people are fixated on crazy events in Washington, both consumers and professional insurance agents and financial advisors need to keep their eye on retirement planning. Since the risk of needing long-term care services are high and get bigger with age, it is essential to put a plan in place before retirement.

"We must explore all the facts. Most of us are aware that planning for retirement is essential to do in advance. For people in their 40s and 50s, they better have concrete plans in place and if they don't, they should work toward that goal right away. We also need to understand longevity is a big obstacle. With aging comes the increased risk of needing long-term care services. Without a plan in place these extended care costs will be paid out of income and savings or your family will become caregivers. Perhaps both. There is a better solution," McCann explained.

According to McCann, additional government solutions for long-term care are not on the horizon. Two government programs exist for long-term care. Medicaid provides benefits for those with little or no assets. While he explains that there might be some expansion of how that care might be delivered, no additional benefits will be provided.

"The federal government has already run these numbers on a bi-partisan basis. Despite what some candidates might say, the cost of expanding long-term care benefits are too great. Medicaid will continue to be here for those who need it. However, Medicaid is never the goal or the solution for most American families," McCann said.

Perhaps the biggest secret in retirement planning, according to McCann, is the partnership program.

"Too many people are unaware of the power of this program. Too many people think Long-Term Care Insurance is expensive. Too many financial professionals don't have a solid understanding of these products and how to design affordable plans," McCann said.

McCann urged financial advisors and general insurance agents to team-up with Long-Term Care Insurance specialists who have a solid understanding of product features, underwriting standards, and claims.

"This will give more American families access to their choice of quality care, asset protection, and peace-of-mind. By working with a specialist, American families will see how easy and affordable these plans can be. They will not only safeguard savings and income but reduce the tremendous stress and burden otherwise placed on family members," McCann explained.

McCann urged to not allow news events to paralyze planning that really needs to get set in place. He said the best time to start planning is well before retirement, in your 40s and 50s, when premiums are low and the most options are available to choose from.

"We must understand that we must live our lives no matter what craziness is going on in Washington or anywhere in the world. We are responsible for our families, not anyone else," McCann said.

McCann said research should start with finding the current and future cost of long-term care services in your area. This calculator will be very helpful: https://www.ltcnews.com/resources/states.

McCann assists consumers nationwide using a unique method where he speaks with a consumer on the telephone while viewing his computer screen on their computer. This provides a pressure-free way to learn about these products and their various options available from the many companies available. He also works with many financial advisors helping them assist their clients.

Consumers can learn more about long-term care planning at https://mccannltc.net/resources/faq. On his website, there is a link to obtain free quotes from all the major companies.

McCann Insurance Services, Inc.
1322 GREENBRIAR LN
DARIEN, IL 60561

Matt McCann, is recognized as one of the nation's leading Long-Term Health Care (LTC) specialists and a nationally known speaker on Long-Term Health Care issues. Since 1998, Matt has been a leader in finding solutions for the physical, emotional and financial burdens LTC places on the American Family. He has been recognized by the American Association for Long-Term Care Insurance as one of the top specialists in the country.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Long-Term Care Partnership Program - America's Big Retirement Secret here

News-ID: 1842083 • Views:

More Releases for Care

Ayurvedic Market by Product (Healthcare, Personal Care, Skin Care, Hair Care, Or …
According to a new report published by Allied Market Research, titled, "Ayurvedic Market: Global Opportunity Analysis and Industry Forecast, 2022-2029" Ayurveda is a system of medicine that has its origination roots in the Indian subcontinent. It uses natural healing practices to cure clinical conditions such as sinusitis, cough, depression, and insomnia. Ayurveda therapies have been integrated in general wellness and in some cases in medical use worldwide. In addition, ayurvedic
Home Care Market Exceptional Business Performance | Polishes, Surface Care, Toil …
Report Ocean released a report that presents a detailed analysis of the Global Home Care Market, along with insights into key factors which drive the market. The report is a comprehensive and systematic analysis of the market, providing key statistics on market developments, analyst opinions, competitive landscapes, and regional analysis, among other factors. This report presents a comprehensive and expert analysis of key business trends and market forecasts for Global Home
Baby Care and Mother Care Market - Taking Care of a Newborn
Baby care and mother care products are meant for infants and mostly children under the age of four. These products are specifically formulated to be non-irritating and have mild use ingredients which are selected to make the products organic and natural. A number of key players now manufacture personal care products for mother and child that are designed specifically for use during pregnancy. Obtain Report Details @ https://www.transparencymarketresearch.com/baby-care-and-mother-care-market.html The global baby care
Personal Care Ingredients Market : Skin Care, Hair Care, Oral Care, Makeup, and …
Personal care includes a wide range of products, such as toothpaste, soaps, facewash, repair face cream, and others, that are used by individuals to maintain personal hygiene and improve their appearance. Personal care products are used on a daily basis by individuals, and are made from ingredients obtained from both natural and synthetic sources. Get Access to TOC / Sample Report @ https://www.alliedmarketresearch.com/request-toc-and-sample/4333 Natural ingredients for personal care includes coconut oil, shea
Global Cosmetics & Personal Care Sales Market By Product Type - Skin Care, Hair …
Researchmoz added Most up-to-date research on "Global Cosmetics & Personal Care Sales Market By Product Type - Skin Care, Hair Care, Oral Care and Cosmetics" to its huge collection of research reports. In this report, the global Cosmetics & Personal Care market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016
Organic Personal Care Products Market for Skin Care, Hair Care, Oral Care and Co …
"The Latest Research Report Organic Personal Care Products Market for Skin Care, Hair Care, Oral Care and Cosmetics - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz" Organic personal care products are manufactured from natural ingredients of plant extracted under eco-friendly conditions. Products include under body care, facial care and