Long Term Care Awareness Month is a great reminder to families to discuss proper planning and the possibility of needing extended care.
Irvine, CA (PRWEB) November 17, 2011
This November, CPS Insurance Services (CPS) raises awareness about the importance of Long Term Care (LTC) Insurance, and how it impacts the financial future of millions of Americans.
According to the LIFE Foundation, about 70% of people over the age of 65 will require some sort of Long Term Care during their lifetime. Many assume that LTC is paid for by their Health Insurance Plan or Medicare, when this is often not the case.
Currently, LTC services in a hospital, nursing facility or at home can cost upwards of $75,000 a year. A lifetime of retirement savings could easily be depleted in only a few short years. Additionally, the emotional and physical strain placed on family members caring for a loved one can be overwhelming. LTC Insurance protects retirement assets, as it covers the cost of treatment if one develops a chronic illness or becomes disabled and is unable to care for himself/herself for an extended period of time; it also provides families with the peace of mind knowing their loved one is being cared for in a comfortable setting.
“Long Term Care Awareness Month is a great reminder to families to discuss proper planning and the possibility of needing extended care,” said Peter Holden CEO of CPS Insurance Services. “Families should plan for their future and decide what type of care is necessary in order to maintain the standard of living they are accustomed to.”
LTC Insurance should be purchased while young and healthy to ensure a lower premium. “Once you obtain coverage, your premium cost is set and cannot be increased unless it impacts an entire class of policy holders,” said Terese Chanel, Long Term Care Sales and Marketing Manager for CPS. “The cost of premium is usually far less than the out-of-pocket expenses one would pay for Long Term Care services.”
For more information about Long Term Care visit http://www.cpsinsurance.com.
About CPS Insurance Services:
CPS Insurance Services (http://www.CPSInsurance.com) has built a solid network and established a substantial presence across the USA as the leading provider of products, service, and support in the insurance industry. Celebrating 37 years of continued success, CPS is dedicated to meeting and exceeding the needs of affiliate agencies and individual brokers providing a balanced mix of the latest information and technologies, along with years of industry knowledge and service expertise.
The CPS marketing team is equipped with CLU, ChFC, and LOMA designations, offering strategic and advanced consulting, case design and management, point of sale support, immediate turnaround proposal service, field underwriting expertise, and application, licensing, and contract processing with status reports. By partnering with CPS, affiliates and brokers have access to the best options available in the insurance and financial services industry. CPS understands the market and its ever-changing targets and delivers the level of service and support that each client expects and deserves.
CPS Insurance Services, established in 1974 - providing brokers with the top Companies, the most competitive Products, and the best Service in the industry. For all your insurance needs! Find CPS on [Facebook, follow CPS on Twitter and visit CPS on YouTube.
PR & Marketing Specialist
CPS Insurance Services