Long Term Care and Life Insurance

As retirement planning specialists, the team at Miramontes Capital understands that life insurance and long-term care insurance represent parts of a comprehensive retirement plan. We all want a stable financial future for ourselves and our loved ones after we retire. These specialized insurance policies help provide peace of mind.

About 70% of seniors will eventually need some form of long term care. As we plan for our retirements, most people understand the concept of setting aside money for future expenses. This can include making investments, participating in pension plans, or funding retirement accounts. Government retirement benefits are also sources of income after we retire. These potential sources of income may not be enough, especially when we want our loved ones to be financial secure well after we’re gone. Another aspect that many people do not consider when planning for retirement is how we might pay for long-term care. Miramontes Capital can help.

For retirement planning, specialized insurance policies provide solutions. Life insurance plans provide income for our loved ones. Long-term care insurance is designed to supplement government plans like Medicare in helping to pay for care expenses not covered under Medicare.

There are many types of life insurance plans. These are typically divided into two major categories: term life insurance and whole life insurance. Term life insurance is a policy that provides coverage for a specified period of time. If you survive past the end of the policy term, there is no payout. Whole life insurance provides coverage until death. Many of these policies build value over time. In both cases, if you die while your plan is in effect, the insurance will pay death benefits to your surviving family members.

  • Delaying coverage
    Long term care insurance provides a way for older adults to fund expensive long term care services. And typically, they receive more coverage care than the premiums that they pay. However, only a handful of retirees have decided to purchase a policy on time.
  • Thinking Medicare, Medicaid, and Social Security to cover the expenses
    Medicare will not finance most of the long term care expenses; even though 4 out of 10 Americans age 40 and older mistakenly expect so. Also, Medicaid enforces a strict income limit that may require people to spend down their assets just to qualify.
  • Relying on family members to provide the care
    In a previous blog post, we discussed how senior care affects an adult child’s life. By relying on your children to provide the care that you need or pay for the care services you require, you put them at risk of losing their financial stability. The number of hours dedicated to providing care increases with the age of the caregiver. Instead of working and building retirement income, family members spend more time providing care for their loved ones.

There are so many choices when it comes to insurance policies, guidance can be of great benefit in choosing policies. The team at Miramontes Capital takes the time to understand your needs and your concerns. With this information, we can help you select the insurance plans that meet your needs now and into the future. Our guidance and client care are unrivaled in the retirement planning industry.

Call Miramontes Capital Today. Life insurance and long-term care insurance are critical parts of the retirement plan. Speak to our dedicated retirement planning professionals today by calling Miramontes Capital for more information or to schedule and appointment…

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Retirement Planning

The talented financial professionals at Miramontes Capital work directly with each client, developing the right plan for each person’s specific needs and desires. We know that many financial concepts are complex – our team excels at breaking down these concepts into easy-to-understand language. The result is a custom-tailored plan that makes sense for you and for your loved ones.

Long Term Care and Life Insurance

When planning for retirement, it is important to understand that taxes don’t stop when our paychecks do. Taxes can impact our retirement finances, even after we’re gone. To ensure a stable financial future for you and for your loved ones, tax planning represents a critical part of the retirement planning process. At Miramontes Capital, our tax planning experts can help you develop a plan that meets your needs and goals perfectly.

Financial Planning

The talented financial professionals at Miramontes Capital work directly with each client, developing the right plan for each person’s specific needs and desires. We know that many financial concepts are complex – our team excels at breaking down these concepts into easy-to-understand language. The result is a custom-tailored plan that makes sense for you and for your loved ones.

Trust & Estate Planning

Our experienced retirement planning professionals at Miramontes Capital are ready to help with comprehensive trust and estate planning services. With our help, you can take charge of your assets, setting a course for a stable financial future for you and your loved ones.

Investment Planning

One of the primary components is the concept of investment planning, or the development of an investment roadmap that helps you meet short- and long-term financial goals. The investment planning professionals at Miramontes Capital can help with this crucial part of the retirement planning process.

Tax Planning

When planning for retirement, it is important to understand that taxes don’t stop when our paychecks do. Taxes can impact our retirement finances, even after we’re gone. To ensure a stable financial future for you and for your loved ones, tax planning represents a critical part of the retirement planning process. At Miramontes Capital, our tax planning experts can help you develop a plan that meets your needs and goals perfectly.

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