It is inevitable! We will all grow older and require some form of care. Do we want to be a burden to our spouse or our children? Do we want to be forced to use the assets we have saved over time to fund our retirement to pay for our care?
Most people don't realize that they can buying "Longevity Insurance". You buy Life insurance when your young to protect your loved ones financial future, but most people overlook the opportunity to pass the costs of long-term care off to an insurance company.
In New Brunswick the average cost of a nursing care facility is about $40,000 per year. Wouldn't you rather pay pennies on the dollar to have an insurance company assume that risk. In so doing you will not be forced to use your own savings, RRSP's and GIC's to pay for your care.
Recently the Provincial government listened to the concerns of the public and changed the rules pertaining to one's principle residence and excluded it from the calculations used in determining funding cost.
To find out how Long-Term Care Insurance can protect your assets and fund the best care, call us.
Our contact info is on our webiste www.mcguirefinancialservices.ca
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