Retire Safe & Tax Free - Don't Let This Happen to You

One of our clients just told us an unbelievable story about their frustrations with being sold the WRONG kind of Long Term Care insurance coverage which has cost their retirement monies dearly...Norma wrote: Beware when buying products such as long term care. Know the ins and outs especially of the small print before you hand over that check to purchase the policy.

Earl and I bought an LTC policy from a so called "expert". We were in our very early 60's and the thought of ever having to use it was far from our minds because we were both in good health. We thought, sure we have this policy in place and if we ever need it, it's there for us. Well, after paying $383.00 monthly for over 14 years, we found it really was not there for us - financially that is!!

When Earl needed some in home care (after over 14 years of paying our premiums every month), I contacted our LTC carrier to find out what the next step would be. I was informed that their financial aid would not kick in until I had achieved 80 in home visits of care. This is not 80 hours of visits - THIS IS 80 VISITS. And their definition of a visit means a caregiver coming to your home for at least 3 hours - this is a visit. And now we must complete 80 of these visits at approximately $23.00 an hour. And the care must come from a valid caregiver agency which of course equates to a much higher hourly fee, than just hiring someone you may know at a lower rate.

In our case with the hourly fee of $23.00, a visit being 3 hours, and having to qualify for 80 visits, this added up to over $5,500.00 all the while continuing to pay our monthly premium of $383.00. Once you meet your quota of hours, they waive the monthly premium - but we were quite a long way from that.

In retrospect, when Marc Weiss was referred to us, we learned too late that there are policies that kick in almost immediately, but we were never given that option from the agent who greatly touted the crappy policy he sold us. So do your homework, don't get stuck paying many thousands of dollars only to find they went down the drain, and worst of all, the care that was so sorely needed, is not available. You can trust Marc because he really cares about his clients!

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