New Year’s Resolution: Making 2025 the Year of Smart Planning
As we wave goodbye to the old year and roll out the welcome mat for the new, many of us take a moment to reflect and set resolutions. Whether it’s embracing healthier habits, picking up a new skill, or spending more quality time with loved ones, the new year is all about growth and planning. But there's one resolution that often flies under the radar—one that could significantly impact your future well-being: securing long-term care insurance.
As you look ahead to 2025 and the exciting new chapter in your life, here’s why making long-term care insurance a priority should top your list this year.
1. Peace of Mind for the Future
Life is unpredictable, but we can prepare for whatever comes our way. Long-term care insurance protects your financial future by covering the costs of extended care services that may be needed as we age. Securing coverage now ensures that if the need arises, you won’t be hit with overwhelming out-of-pocket expenses. The peace of mind that comes with having a plan in place? Priceless.
2. You’re Never Too Young to Start
Think long-term care insurance is only for your golden years? Think again! The younger you are when you purchase a policy, the more affordable it can be. Premiums are generally lower if you buy in your 40s or 50s rather than waiting until you’re older. By securing coverage now, you lock in a better rate and avoid the risk of higher premiums or being denied coverage due to age or health conditions later on.
3. Protect Your Family and Loved Ones
Caring for a loved one who requires long-term care can place a significant emotional and financial strain on family members. By securing long-term care insurance, you ease the burden on your family, knowing that professional care will be available when needed. Your loved ones can focus on being there for you emotionally, rather than worrying about the logistics and costs of care.
4. Rising Costs of Long-Term Care
The cost of long-term care services is on the rise and expected to keep climbing. As of December 2023, national median care costs average $64,000 for assisted living, $75,000 for home care and over $116,000 for a private room in a nursing home.* Securing insurance now ensures that your coverage keeps pace with rising care costs, providing you with a safety net when you need it most.
5. The Best Time to Plan Is Now
While no one wants to think about needing long-term care, planning for the possibility is one of the most responsible and proactive steps you can take. By making long-term care insurance part of your New Year’s resolution, you’re setting yourself up for a more secure future. Starting the year with a clear plan for your health and financial future gives you control over your choices, ensuring you have the care you deserve when the time comes.
Make Your Future a Priority This Year
Adding long-term care insurance to your list of New Year’s resolutions is a step towards securing your future, protecting your loved ones, and ensuring you’ll have the care you need, no matter what the years ahead may bring.
Our team is here to help you navigate the options available and find a policy that suits your needs. Long-term care planning is essential for securing your financial future and maintaining your independence as you age. By making 2025 the year you act, you’ll be setting yourself up for a more secure, worry-free future.
Your future self will thank you for the steps you take today. Let’s make 2025 the year of smart planning!
If you’ve already got a Gold Star Sticker on LTC Planning, I tip my hat to you! 🌟 Congrats on being ahead of the game. Now, why not spread the wealth of knowledge? Share this article with a friend and help them start the new year on the right foot too.
Brigitte Bromberg, MS, CFP®, CSA® is an independent insurance specialist who provides unbiased, consultative, solutions for long term care, life and disability insurance needs.
For more than 30 years Brigitte has worked diligently to provide clients the information and insight they need to make informed insurance decisions. President of Winning Strategies Group LLC, Brigitte loves speaking to groups, and she also loves helping people implement creative, smart insurance strategies.
Comments