A long-term illness is an area of life that can strike at the very core of emotional and financial well-being.  For those who have had the experience, you understand the devastating effects that caring for someone can have on the caregiver and rest of the family.

If you have not consciously prepared a plan for a long-term care illness, such as buying long-term care insurance, then you still have a plan.  It’s a plan that you may not want or like.  Nevertheless, your plan is to spend all of your money and accumulated assets, whatever it takes, to pay for the care that you or your loved one will need.

What is a long-term care need?  When required care progresses from healthcare issues to needing help with activities of daily living; bathing, dressing, hygiene, walking, medication assistance, etc. for 90 days or more.

We never think about long-term illness, unless there has been a personal experience.  If this happens to someone we know, then the planning thoughts begin.  However, we rarely act on cohesive long-term care planning, we procrastinate and continue thinking, “It won’t happen to me.”  It can happen, and it does, happen to people just like us.

Long-term care insurance is too expensive!  Yes, it is.  Compared to having to spend all your income and assets to pay for a long-term care illness, it’s a bargain!  The premium cost is about $.30-$.40 on the dollar vs. paying 100 cents on the dollar for care.  However, the younger and healthier you are, the less expensive the premiums are.  Plus, younger ages, 40s-50s can buy a 10-pay long-term care plan; pay for 10 years and no more premiums.  When you get ready to retire, you no longer have to worry about the premium.  Stan & I chose this option 13 years ago.  Now we don’t worry about rate increases; they don’t affect us.

There are also other options to traditional long-term care insurance.  There are a multitude of hybrid life insurance/annuity/long-term care products.  These plans work well for those who don’t want to “use it or loose it” for long-term care illness.  If there is money left that hasn’t been used for care, then the balance is passed to your heirs.

If you are opposed to all of these options, there is one more planning option available.  To learn more, talk to a professional.

Now is the time to ACT!

Please remember, when you are out of money, you are out options.

The time to ACT is while you still have options.

Stan and Donna are offering Best Age Ever readers a complimentary personal consultation!

Call: 502-241-2858 or 877-241-2858

Veteran’s Aid & Attendance

If you are a wartime Veteran, Spouse, or Widow of a Veteran and you need help taking care of Activities of Daily Living (ADLs – bathing, dressing, feeding, continence/toileting, transferring, ambulating), you may be eligible for a long-term care pension benefit:

Single Veteran:            $1,703 TAX FREE monthly pension
Married Veteran:            $2,019 TAX FREE monthly pension
Surviving Spouse of a Veteran:    $1,094 TAX FREE monthly pension
Dependent Spouse of a Veteran:    $1,337 TAX FREE monthly pension
Two Married Veterans:        $2,528 TAX FREE monthly pension

If you have questions how to access these benefits, call us at 502-241-2858 or 877-241-2858

VA Travel Reimbursement

Reimbursement for mileage or public transportation may be paid to the following:

1. Veterans with service-connected disabilities rated at 30%;
2. Veterans traveling for treatment of a service-connected condition;
3. Veterans receiving a VA pension;
4. Veterans traveling for scheduled compensation or pension examinations;
5. Veterans whose income does not exceed the maximum VA pension rate

Mileage Reimbursement is at the rate of 41.5 cents per mile.  This mileage is subject to a deductible of $3 for a one- way trip, $6 for a round trip, with a maximum of $18 per or the amount after six one-way trips (whichever occurs first) per calendar month.  However, these deductibles can be waived if they cause a financial hardship to the veteran.  The deductible is also waived for veterans traveling or scheduled compensation or pension examinations.
—–Military.com

Stan & Donna Rosenthal, CLTC
Certified In Long-Term Care

Stan & Donna Rosenthal Specialize in Retirement Planning, for those thinking about retirement and Lifestyle Preservation Planning for those who are already retired.  They also work with a team of specialized attorneys to help Veterans, their spouses and widows/widowers, get a long-term care, tax-free, monthly pension benefit.

They sponsor and host “Peace of Mind Radio”, every Monday from 7-8 p.m., Saturdays from 2-3 p.m. and Sundays from NOON – 1:00 p.m., on WKJK 1080 AM. You’ll get honest opinions about retirement, aging and your money!

Stan & Donna Rosenthal – “We Provide Peace of Mind!”
Rosenthal, Starling & Associates, 4500 Bowling Blvd., #100, Louisville, KY 40207
Office: 502-241-2858, Toll Free: 877-241-2858, Cell: 502-643-9136
Website: www.rosenthalstarling.com
Veterans Aid & Attendance Long-Term Care Monthly Pension Benefits: www.veteransofkentuckiana.org
Email: donna@rosenthalstarling.com