Are you set up for long-term success?

In your retirement, health and wealth go hand in hand. Don’t delay determining where long-term care strategies fit in your future.

By the Numbers

Understanding the True Cost of Long-Term Care

Going without a long-term care protection strategy could result in both financial and emotional ramifications. These are some of the impacts an unexpected health event could have to your pocketbook and your caregivers in retirement:

Financial

According to Nationwide’s comparison of long-term care costs from state to state, the average annual costs for these services are: 1

$0

Informal Carea

$0

Home Carea

$0

Assisted Living Facilityb

$0

Nursing Homec

1 Nationwide. “Compare long-term care costs from state to state.” https://nationwidefinancialltcmap.hvsfinancial.com/. Accessed June 24, 2024.
ᵃBased on 44 hours per week by 52 weeks
ᵇBased on 12 months of care
ᶜBased on 365 days of care

Emotional

Below are some of the possible impacts to caregivers in a long-term care situation.2

0%

Employed while caring for someone over age 50

0

Average amount of hours per week spent providing unpaid care for loved ones they don't live with

0%

Concerned about the physical strain that comes with caregiving

0%

Concerned about the emotional strains of caregiving

0%

Diagnosed with two or more chronic conditions

0%

Used all their short-term savings while taking care of elderly parents at home

2 Claire Samuels. A Place for Mom. June 15, 2023. “Caregiver Statistics: A Data Portrait of Family Caregiving in 2023.” https://www.aplaceformom.com/senior-living-data/articles/caregiver-statistics. Accessed June 24, 2024.

Now’s the Time for a Healthy Conversation

There’s a very real possibility you will need long-term care services during retirement. One difficult talk today could help save you and your loved ones years of heartache and financial hardship.

DID YOU KNOW?

Long-Term Care Can Be an Asset for More Than Just Your Health

In addition to traditional long-term care insurance options, there are several other avenues available that can offer coverage options, including fixed premiums, tax-free death benefits* and flexibility to use benefit payments however you choose.
These options include:

  • Asset-Based Long-Term Care Insurance - Life Insurance


  • Long-Term Care Riders on Insurance/Annuity Products

  • Chronic Illness Riders on Insurance/Annuity Products

  • Asset-Based Long-Term Care Insurance - Annuities


  • Annuity Income "Doubler" for Confinement or Home Health Care


*Life insurance death benefits are generally tax-free to a properly named beneficiary. Life insurance agents do not give tax or legal advice.

LTC riders are NOT a replacement for long-term care insurance.

long-term-care-768x710

Don’t Let “What If” Become “What Now?”

It's estimated that as many as 7 in 10 Americans age 65 and older will need some type of long-term care.³ This complimentary guide can help you understand possible costs and solutions, including:
• Strategies to help protect your potential caregiver from financial burden
• Estimated increases in long-term care costs
• The true impact of long-term care

3 Barbara Marquand. NerdWallet. July 7, 2023. “Long-Term Care Insurance Explained.” https://www.nerdwallet.com/blog/insurance/long-term-care-insurance/.
Accessed June 24, 2024.

  • By submitting your contact information, you consent to be contacted regarding retirement income strategies that utilize investments and insurance products.
  • This field is for validation purposes and should be left unchanged.

Be Proactive, Not Reactive

It’s never too early or too late to prepare for the unexpected — so you can enjoy life on your terms. Get started by scheduling a no-obligation meeting with Hanna Wealth Advisors or registering for an upcoming event.

Hanna Wealth Advisors offers insurance products and services. We do not provide tax or legal advice. We are not affiliated with any government agency. Life insurance and annuity products contain fees and charges, including surrender penalties, and may contain restrictions and limitations. Medical and financial underwriting may be required to qualify for life insurance or optional riders. Long-term care (LTC), chronic illness and other riders are not available on all insurance and annuity products. The addition of a rider may require an additional fee. Product and feature availability may vary by state. Insurance product guarantees are backed by the financial strength and claims-paying ability of the issuing company.

Liquidity from life insurance policies and annuities is generally in the form of policy loans and/or withdrawals, which may be subject to interest charges and surrender penalties and may reduce the ultimate death benefit and cash value. Loans and withdrawals may require additional premiums to keep the policy in force. Assumes the policy is not a modified endowment contract (MEC). Adverse tax consequences may result if withdrawals exceed premiums paid into the policy. Annuity distributions may be subject to ordinary income taxes and potentially a 10% IRS penalty (if taken before age 59 1/2).

6/24-3427168