Why do I need insurance for anyway?

I want to share my personal story with you.  I hope you will agree, after you read it, that planning for the inevitable is important!

Who Is This Guy?

I was raised in a lower middle class family in New Jersey.  When I got out of high school, I went to work for Prudential Insurance Company.  I've been an insurance guy almost 30 years as of today.

The Real Story

My dad was an apartment house superintendent and my mom worked many different jobs in her life.  My mom had developed Alzheimer's disease and it was getting harder and harder for my dad to care for her.  My dad decided it was finally time to retire and he bought a house, the first one he'd ever lived in!  Five months after he moved in to his new house, he was dead.

There was no real warning that this was going to happen, and my dad didn't prepare for it.  I had to run around to find out which bank my mom and dad used and find some way to get them to release funds to pay for my dad's funeral.

The Problem I Was Left With

In the meantime, it was costing me $125 a day to keep my mother in assisted living, which wasn't the correct facility for her.  She needed to be in a nursing home but it was taking time to get that done.  I had to deal with the county bureaucracy to allow my mother to qualify for Medicaid to pay for her nursing home stay.  Needless to say, I used up a fair amount of personal days at work and spent many nights up wondering when I would be allowed some sleep!

When it was all said and done, I had to sell my parents' home and turn over a good portion of their bank account to help pay for my mom's nursing care.  And, because I spent a significant amount of time getting their affairs in order, I lost my job and was unemployed for over a year.

What will your story be?

• I'm sure you know someone who was caught by surprise with a death in the family and they didn't make preparations to pay the bill.

• Do you know anyone that went through having with a loved one with a serious illness that required long term care?  Some folks think  that they can transfer ownership of assets when the time comes that they need long term care and will qualify for Medicaid.  Right now, all states require a minimum of 5 years look back over any transfers that occurred including bank accounts, homes...you get the idea.  If you tried to hide anything, you will have to pay that amount before Medicaid benefits will pay.  Oh, if you have Medicare,  Medicare will cover nursing home charges...about 5% of the average nursing home stay.  You will owe the other 95%.

The bottom line is that it can happen to any of us!  Even if you have the financial resources to cover expenses, there are other things besides preserving your assets that is important to you.

• Would you rather plan or leave your spouse or your children the burden of deciding?

• Would you like the choice of retaining your  dignity with home health care instead of putting them in an institutional setting like a nursing home?

What about final expenses?  My dad didn't plan to die when he did.  It's a given that if you don't plan before it happens, you won't be planning it after it happens.  And what about your spouse?  What preparations have you made for each other?  For your family?

Complete the information below and let's spend a few minutes together going over your plan.  No sales pitch, just an honest and frank discussion about your plan.  If you want to discuss some of our product options to answer your problems, you can let me know that when we get together.  If not, at least you will know where you stand.  Don't lose the chance you have now to prepare! 

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