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Expense Planning

At Gurley LTCI we use a three-step process to simplify long-term care expense planning for our clients. First, we gather information about your health because your health history will determine insurability and if discounts may apply. It will also determine carrier, product and ultimately the cost of coverage.

We also want to discuss wealth, asset type and location and financial goals. This helps us understand if insurance is appropriate for you and the affordability of premiums. We also like to help clients with tax-advantaged funding strategies and this conversation helps us to do that.

The second step is all about education. We want you to be informed about the issues surrounding long-term care so that you can make a prudent decision about insurance as a funding option. We’ll explain what long-term care is and how it differs from healthcare and Medicare. We’ll discuss risk, cost, funding options and pros and cons of the products in the market today.

The third step is completing the application if you elect to pursue coverage. We’ll pre-fill a lot of the information for you. We leave nothing to chance and manage the entire underwriting process for you.

We ask clients to consider two factors as we work through the process: 1) How much risk do you really need to offset? 2) What is a comfortably affordable premium? We then work to align these two factors by customizing coverage to each client’s risk assessment and premium budget.

We recommend that clients approach long-term care expense planning as a month-long project. That’s a good timeline to retain the information, review our recommendation(s) and make a decision.

Ready to get started? Give us a call at 480.515.2715

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