Will you even need long-term care (LTC)? And if you do, why not simply self-fund those costs by setting aside a portion of your retirement assets? Certainly you can, but is that really your best option? Although you may never need these protections, what would the consequences be to your family, if you did?
With the average nursing home costing more than $82,000/year,1 and full-time (12 hours/day) in home care averaging $91,000 annually,2 self-funded long-term care can quickly erode your investment portfolio – assets that might otherwise provide a meaningful legacy for your loved ones.
Your SunTrust Investment Services advisor can help you explore new ways to transfer some of that risk to an insurance company without forfeiting any unused benefits or dealing with rising premiums using:
Securing long-term care insurance while you’re in good health can provide a tax-advantaged way to pay for extended home care and better protect your legacy for your family.
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