There are very few people who have not heard or read about long-term care insurance. Just as there are very few people who do not have a “long-term care experience” somewhere in their family — a loved one in a nursing home facility, or a family member being cared for at home because of advancing age or a disability (or both). So, there is no need to spend very many words in this column on the catastrophic effect these events can have on a family, crossing all generations. You already know that.
 
What you may not know is the urgency of taking action. The ability to buy long-term care (LTC) insurance is based on your health. Putting the decision off or “waiting until next year” can be problematic. As we have talked about in this space many, many times before, no one will ring a bell for you the night before your health changes. In addition to the required premium commitment increasing every year with your age, you run the increased risk of developing a health issue that can prevent you from buying — not a very good position to be in.
 
When you make the decision to talk about LTC, come to the Knights of Columbus. In addition to providing life insurance and guaranteed retirement products to our members and their families, we also have a very competitive long-term care product available through our agents. Since entering this market in 2000, nearly 30,000 LTC policies have been sold to K of C members and their wives. While some companies in this line of business have had difficulty, our product continues to perform well with no premium increases on existing policies.
 
Your agent will help you select the plan that’s right for you, and together you will arrive at an affordable premium that offers you the coverage you need. We can show you several different options — facility-only coverage, home care or a combination of both. Our agents are professionally trained to answer your questions — but you have to invite them in. I urge you to not delay. Think only of your own “longterm care experience.” I don’t think you want yourself or your family in that position. And don’t worry about the cost. The cost is not the problem; it is the solution to the problem.