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Now Open: Golden Valley branch in Canyon Country
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Straight Talk about Long-Term Care Insurance Jan Franklin, President of LFCU Investment Division, will answer this quarter's investment question.  Jan Franklin President, LFCU Financial Services Inc. Financial Consultant A: Being misinformed about long-term care can be costly, and may actually limit your future choices for care and independence. That's why it's so important to get the facts. Common misconceptions include: 1. "I won't need long-term care." In fact, individuals over age 65 have nearly a 70% chance of needing long-term care at some point in their lifetimes.* 2. "Long-term care is only for the elderly." Forty percent of people currently receiving long-term care are ages 18 to 64, often needed as a result of a traumatic injury, stroke or degenerative medical condition.* 3. "Health insurance will cover all my needs." Medicare and private health insurance programs don't pay for the majority of long-term care services people need. Medicare typically covers only limited home care or a short nursing home stay for rehabilitation. 4. "The government will pay for it." Only individuals who meet low-income guidelines under the Medicaid program receive assistance for long-term care. 5. "My spouse or children will care for me." It is true that family members often assume the responsibility of caring for loved ones, but not without costs. Ask yourself these questions: What if your spouse has health problems of his or her own to manage? What if your child has to quit his or her job to care for you? What if the cost is a financial hardship for your family? The experts at CUNA Mutual Group are ready to answer your questions about long-term care. Call toll-free today at (800) 443-6003.
Registered Representatives of and securities and certain insurance products are offered through INVEST Financial Corporation, member FINRA/SIPC and affiliated insurance agencies. INVEST is not affiliated with LFCU Financial Services. Products offered are:
• Not a Deposit • Not FDIC or NCUSIF Insured
• Not Guaranteed By LFCU • Not Insured By Any Federal Government Agency • May Lose Value |
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