Westlake Private Wealth Management

Printed from: www.westlakepwm.com

Long-Term Care
Self-Insurance

Will You Be Able to Afford Nursing Home Care?

Nobody wants to think about the possibility of needing long-term care. But if, somewhere down the line, you and/or your spouse do need assistance, will you have the funds available to pay for care? How much will an extended stay in a nursing facility or care received in your own home cost? Will you be able to meet this cost and still pay your and/or your spouse’s personal living expenses? Will there be enough left over to provide an inheritance for your loved ones or your favorite charity? Does it make sense to self-insure when private long-term-care coverage may be available? This calculator will assist you in answering these questions.

 

Based on your assumptions, the results show the potential cost of care for one year, three years, five years, and 10 years of care.

Your Results

Your current age: 0
Age you begin to use long-term-care services: 0
Assumed inflation rate for long-term-care services: 0%
The current daily cost of a nursing/long-term care facility: $0
Based on your answers, the average daily cost when care is needed: $0
Monthly, this works out to: $0
Total estimated cost if you need one year of long-term care: $0
Total estimated cost if you need three years of long-term care: $0
Total estimated cost if you need five years of long-term care: $0
Total estimated cost if you need 10 years of long-term care:  $0

Long-term care costs can be financially devastating, especially if care is needed for an extended time. And remember, these results estimate the potential costs for one person. What if both you and your spouse needed care simultaneously?

Can You Afford To Self-Insure?

 

This table assumes that long-term-care inflation continues at the same rate entered above.

[[Member Agent]] is an agent licensed to sell insurance through New York Life Insurance Company and may be licensed with various other independent insurance companies in the states of [[agent states in which licensed]]. No insurance business may be conducted outside of these states referenced.

[[Member Agent]] is a Financial Advisor offering investment advisory services through Eagle Strategies, LLC, A Registered Investment Adviser, in the states of [[agent states in which licensed]]. As such, these services are strictly intended for individuals residing in the states referenced.

[[Member Agent]] is a Registered Representative of and offers securities products and services through NYLIFE Securities LLC, Member FINRA/SIPC, a licensed insurance agency. In this regard, this communication is strictly intended for individuals residing in the states of [[agent states in which licensed]]. No offers may be made or accepted from any resident outside the specific states referenced.

[[Member Agent]] is a Member Agent of The Nautilus Group®, a service of New York Life Insurance Company.

[[DBA Name if applicable. Delete this section if no DBA]] is not owned or operated by NYLIFE Securities LLC or its affiliates.

Neither [[DBA Name and it's employees OR Member Agent]] nor The Nautilus Group®, Eagle Strategies LLC or its subsidiaries and affiliates provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional regarding your particular situation.

FINRA’s BrokerCheck Obtain more information about our firm and its financial professionals
FINRA’s BrokerCheck Obtain more information about our firm and its financial professionals