09/30/2022
September is insurance awareness month. Here is a message from the heart.
I didn't want to post this for the sake of those who hold a different point of view or some people who usually find pleasure in taking important issues out of context, but for the sake of my conscience I will go ahead and ignore the negative feedbacks as well as apologize for any inconvenience upfront.
Financial literacy is not an option, it is a necessity.
As a nurse, I've had the opportunity to work with the elderly population and it breaks my heart to see people at that age rendered homeless, loose hope, dignity and sometimes left at the mercy of family or friends who often times, may be overwhelmed with personal life issues or maybe are just not prepared.
I was recently talking to a family member whose spouse is receiving therapy post CVA. They will need a 24hr care, does not qualify for medicaid due to SS/ retirement income that is slightly higher than required but not enough to pay for private care giver. This family have worked hard, had decent savings that have been depleted by recent illnesses/ hospitalization, even had a life insurance but no long term care LTC or living benefit rider.
Medical expenses, critical and chronic illnesses are major causes of bankrupcy.
Some of what life throws at us is inevitable but proper planning and preparation can make all the difference.
For your sake and for the sake of those you love, insure yourself and loved ones with a life insurance plan that has a living benefit. Whether it is term life or an index, make sure you have a living benefit. If you don't qualify with life insurance, maybe we can look at other possibilities.
Also consider face value when getting a life insurance because it matters. Your face value should be within a premium you are comfortable with but should make sense for your lifestyle.
The idea of a living benefit is to replace income.
LTC from jobs is 60% of base-pay and 80% if you pay for extra but up to 1year.
What happens if after one year you still need help?
In the event that of a sickness or death, family do not have to undersale properties or do a go fundme to raise money.
