Most people plan their retirement finances assuming a long, healthy, active life, lived in their home of choice. But what happens if nature doesn’t cooperate and at some stage you need extra help and support to get out of bed, get dressed, eat a meal, bathe, or any one of the many basic daily activities we take for granted?
The prospect of having to move to a nursing home or other supported living facility is not something anyone would enjoy, especially with the added worry about how the costs will drain our retirement savings.
Long Term Care Insurance is a solution to help pay for the costs of home care or institutional care when required.
Long Term Care Insurance can help you:
• Bring care into your home so that you do not need to downsize or move to a facility right away
• Lessen the burden on caregivers and support your family financially if you are going to live with them if you need care
• Manage your care and expenses if you have an unexpected severe accident, at any age, that results in your needing substantial assistance from a family member or caregiver (Note 1: Taken from SunLife www.sunlife.ca)
An insurance professional can help determine if you need Long Term Care Insurance, and if so, the details of the policy and the amount of coverage. Like all other insurances, if you don’t need it, you shouldn’t buy it. But before you make that decision, make sure you understand your needs and the product.
We hope you will find this information valuable and will increase your financial confidence. You can always find these articles on our website www.actionfinancialgroup.com.
Karin Rimnyak, Certified Financial Planner®
Investment Advisor, iA Private Wealth
Insurance Advisor, Action Financial Group Ltd.
David Dryburgh, Certified Financial Planner®
Investment Advisor, iA Private Wealth
Insurance Advisor, Action Financial Group Ltd.
Ian Barrie, Certified Financial Planner®
Investment Advisor, iA Private Wealth
Insurance Advisor, Action Financial Group Ltd.
This information has been prepared by Karin Rimnyak who is an investment Advisor for iA Private Wealth. Opinions expressed in this email are those of the Investment Advisor only and do not necessarily reflect those of iA Private Wealth. iA private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates.
