LONG TERM CARE PLANNING - 3 STEP PROCESS
Anyone who has ever managed or provided care for an elderly parent or relative understands the importance of planning ahead for their own future long term care needs. At BaileyBilyeu and Associates, we have streamlined this process for you. Considering your current age and health provides you the greatest number of planning options. We use a three-step process to determine if insurance planning is appropriate.
The First step takes place prior to our first appointment. We will need to gather information about your current and past health history. Please note, your health history will help with understanding your insurability, plan sizing/cost, and let us know if you would be eligible for any preferred or couples discounts.
The Second step is our "educational meeting." This meeting can be face-to-face or via Webinar and Teleconference. The goal of this meeting is to learn about your personal (family or friends) experiences with long-term care and to gain a better understanding of your wishes and concerns. We will also discuss what long-term care is, how it differs from Healthcare, and the role of Medicare, Medicaid, your family, self-funding and/or insurance play as a solution for long term care planning. We’ll discuss risk, cost, funding options and the differences of the insurance products in the market today.
The Third step is completing the application if you elect to pursue Insurance coverage. Please keep in mind, we ask you to consider two factors as we work through the process: 1) What is your risk tolerance 2) What premium can you comfortably afford? We then work to align these two factors and design a plan that is customized for you.We recommend that you approach the planning process as a month or longer project, but also know that we can make any final adjustments to the coverage, once we have an offer from an insurance company.
Ready to get started? Give us a call: 480-704-1008