Phil Cannella has a great deal of experience when it comes to long-term care insurance. He has been in the industry for almost 40 years now, offering this form of insurance, and he understands it better than most insurance professionals in the industry. Phil Cannella says that over the last 40 years, long-term care insurance has evolved and changed, and that today’s consumers need to understand what it is. Phil Cannella says that unlike traditional health insurance, long-term care insurance is designed to cover long-term services including personal and custodial care in a variety of settings such as your home, a community organization, nursing home, assisted living facility or other such establishments. Furthermore, long term care insurance policies reimburse policyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of daily living such as bathing, dressing, eating, transferring, etc. Phil Cannella explains that individual policies from various insurance carriers have unique differences and benefits that may suit one person’s need or another.
Phil Cannella explains that a lot more people are going to end up needing some form of long term care as they age than you might think. Way too many people take it for granted that they will either never need care or that someone will somehow take care of them. This concerns Phil Cannella as he has seen too many families who have suffered because a potential long-term care need was never factored into any planning. He’s talks about this and the exclusive Crash Proof Retirement System at his educational events.
It is very important when considering retirement to bear in mind the possibilities of what could occur in the event that a long term care need arises, and to understand the comparatively small cost of long term care insurance, compared to the risk of not having it.