r u t u F ! U O V af nning FOL Long-Trm Car Assistanc (NAPSA)—On out of two Amricans is likly to nd longtrm car insuranc. Will you? No on wants to b dpndnt on anothr individual during th latr yars in lif, but th facts show that about half of Amricans will rquir this typ of car du to an illnss, injury or aging. According to th National Acadmy of Eldr Law Attornys, 50 prcnt of Amricans will bcom nursing homrsidnts, rciv in-hom car or hav a family mmbr provid car. With th pric of profssional car skyrockting, somtims costing up to $75,000 annually, many individuals mayfind thmslvs unabl to absorb th xpns. “Th ida of nding somonto car for us is somthing w don’t want to think about. Howvr, w can’t ignor rality,” said John Amann, snior vic prsidnt of markting for Allianz LTC, th long-trm car division of Allianz Lif Insuranc Company of North Amrica (Allianz Lif). “Unlss you hav a plan, th cost of long-trm car srvics can b dvastating.” A rport by Th Wall Strt Journal shows that 70 prcnt of all singl popl in nursing homs go brok within thr months, and 50 prcnt of all coupls ar impovrishd within six months aftr on spous ntrs a nursing hom. Mdicar provids only limitd bnfits for long-trm car, and qualifying for Mdicaid oftn mans th loss of narly all assts. “Tt’s a sham, but many popl will hav to dispos of assts to qualify for Mdicaid, simply bcaus thy did not rcogniz th risk and thr is nowhrls to turn,” Amannsaid. Assss Your Assts To prpar, tak stock of your situation. 1. List your financial assts. Includ savings, lif insuranc, = M, k stocks, bonds, 401(k), cash, and ral stat. 2. Dtrmin how your assts will b usd. Is your stock portfolio for collg tuition? Is your 401(k) for rtirmnt? 3. Dtrmin how you would pay for long-trm car. Could you manag if you wr unabl to work? 4. Considr your domstic status. Ar you marrid? Do you hav childrn? Who would administr your car? 5. Think about your prfrncs. Would you prfr to rciv car at hom, in an assistd living facility or a nursing hom? Undrstand Your Options As with any typ of financial invstmnt, Allianz Lif rcom- mnds that individuals xamin thir options, utiliz an advisor and rsarch th providr and product prior to signing on th dottd lin. “Som typical long-trm car insuranc policis may not covr actual xpnss, and som can b so rstrictiv that th consumr dosn’t fully undrstand thir policy. Fortunatly, thr is a nw gnration of products that can hlp you not only protct assts but also prsrv frdom of choic and quality oflif,” Amann said. Manyoptions xist. For mor information, go to www.ltwb.org, a Wbsit sponsord by Amricans for LTC Scurity, or contact an Allianz LTC rprsntativ at 800/814-8841.
