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Long Term Care Solutions

At Wealth Counselors, LLC, we have a slate of powerful long term care products to help seniors, ages 55 and up, solve their challenges and meet their needs for independence, control, and peace of mind. Within Our process we will help you design and implement a long term care plan that is unique to you.

We offer both asset-based long term care and premium-based long term care solutions. Which one is right for you? There is no cookie cutter answer. Different people have different needs based on financial considerations, the size and scope of assets, health and age, your tolerance of risk, and other factors. The more clearly you can articulate what you want – and, perhaps more importantly, what you don't want – in terms of your long term care planning, the better our team can assist you.

In some cases, an asset-based long term care solution will make the most sense. With this solution, you can create assets to pass on to your beneficiaries, if you never need the care.

In other cases, premium insurance might be the preferred route, particularly if you lack a strong income stream or substantial assets to protect.

We recommend long term care insurance for all clients:

  • Who are 55 years or older;
  • Who can't pay for nursing home care out of their income or assets;
  • Who have assets they want to protect;
  • Who are able to pass the physical required by the insurance companies;
  • And who can afford the coverage without impairing or reducing their lifestyles substantially.

We can help you carve out a small piece of your assets to protect the rest of your portfolio. We can also help you husband your resources: your time, energy, money, and your ability to choose where and how you get care.

Note that your IRAs cannot be protected by trusts, so it really behooves you to investigate long term care products to meet your needs.

Asset-Based Long Term Care

With asset-based long term care, you use annuities or life insurance to create assets that have a long term care rider attached. The basic motto here is: "if you don't use it, you don't lose it." In other words, if you never need care, the annuities can get passed on your beneficiaries. Asset-based long term care can thus help shield your savings. When you go the asset-based long term care route, you can enjoy more certainty and peace of mind, since you know that you are at the very least building a legacy for your beneficiaries – not just buying time.

Premium-Based Long Term Care

Premium-based long term care insurance works much like car insurance. Your premiums will be determined by a host of factors, including your age, your health, your family medical history, and so forth. Just like with car and health insurance, the company can raise your premiums. That's a potential downside -- a factor that can make paying for coverage somewhat unpredictable. Also, if you never use your life insurance, the money you pay in is essentially lost. In other words, the money you've invested won't flow to your beneficiaries.

Asset-based long term care insurance offers substantial advantages over premium coverage. But premium insurance is certainly better than no insurance at all. It's also more affordable than asset-based coverage.


For More Information

Contact Us


Wealth Counselors, LLC
8153 North Main Street
Dayton Ohio 45415
Telephone: 937-898-5583
Tollfree: 877-483-6730
Fax: 937-898-5584

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