Fortunium’s Long-Term Care Planning

 At Fortunium Wealth Management, we understand that planning for long-term care is an essential part of a well-structured financial strategy. As healthcare costs continue to rise, long-term care planning helps individuals protect their assets, maintain their independence, and reduce the financial and emotional burden on their loved ones. Many people assume that Medicare or traditional health insurance will cover long-term care costs, but in reality, these services are often excluded or only partially covered. Without proper planning, long-term care expenses can quickly deplete savings and retirement funds, creating significant financial strain.

Traditional Long-Term Care Insurance 

• How It Works: Provides coverage for home healthcare, assisted living, nursing homes, and adult daycare services. Premiums are paid in exchange for future care benefits.
• Who It Helps: Ideal for individuals looking for dedicated long-term care protection with flexible benefit options.

Hybrid Long-Term Care Insurance (Life Insurance with LTC Benefits) 

• How It Works: Combines life insurance with long-term care benefits. If long-term care is needed, benefits are paid out; if not used, a death benefit is passed on to beneficiaries.
• Who It Helps: Beneficial for those who want long-term care protection but don’t want to risk losing unused premiums.

Asset-Based Long-Term Care 

• How It Works: Uses an upfront lump sum investment or existing assets to secure long-term care benefits, often providing higher payout values compared to traditional policies.
• Who It Helps: Best suited for individuals with significant assets who want to leverage their wealth to cover potential long-term care costs.

Annuities with Long-Term Care Riders 

• How It Works: An annuity that includes an additional long-term care feature, offering tax-advantaged funding for care expenses.
• Who It Helps: Ideal for those who already have annuities and want to enhance them with long-term care protection.

• Financial Protection: Long-term care expenses can exceed hundreds of thousands of dollars, quickly draining retirement savings if not planned for in advance.
• Maintaining Independence: Proper planning ensures individuals have options to receive care at home rather than being forced into assisted living or nursing facilities.
• Relieving Family Burden: A structured plan prevents financial and emotional stress on family members who might otherwise become caregivers.

The best time to consider long-term care planning is between ages 45 and 65, while individuals are still healthy and can qualify for the best coverage options. Waiting until health declines can result in higher premiums or even denial of coverage. Starting early allows for more affordable pricing, better coverage options, and greater financial security in later years.

1. Initial Consultation – We evaluate your health, financial situation, and long-term care needs to determine the most suitable plan.
2. Customized Plan Selection – We explore different coverage options, comparing traditional and hybrid policies to find the best fit.
3. Medical Underwriting – Some policies require a health assessment to determine eligibility and pricing.
4. Policy Issuance & Implementation – Once approved, we help finalize the plan, ensuring it aligns with overall financial and retirement strategies.
5. Ongoing Review – We conduct regular check-ins to adjust the plan based on changing health conditions or financial goals.

At Fortunium Wealth Management, we work with top A-rated insurance providers to offer a variety of long-term care solutions tailored to individual needs. Our approach ensures that clients have the right coverage in place at the right time, allowing them to maintain financial security and independence as they age.