Long-Term Care Insurance And Extended Care Planning
The Rising Cost Of Care
Why Care Costs Keep Climbing
Home care, assisted living, and nursing facilities are expensive and trending higher each year. Families in Michigan and California often underestimate how quickly savings can shrink. MWI Agency builds a plan for nursing home costs that reflects local realities in Detroit, Ann Arbor, Los Angeles, and Orange County, then sets coverage levels to match likely scenarios.
Choosing The Right Coverage Path
Long-Term Care Insurance Options
Traditional policies can offer strong daily benefits with shared pools for couples. Hybrids pair
life insurance or annuities with long-term care riders so value remains even if care is never needed. We compare underwriting, premiums, inflation options, and home-care flexibility so your plan works where you live now and if you relocate later.
Making Care Part Of Income Planning
Long-term care belongs in longevity planning so one spouse is not left short if the other needs extended support. Women often outlive partners and face higher odds of needing services. We coordinate benefits with survivor income, estate goals, and retirement longevity planning so the household stays on track from Metro Detroit to Orange County.
When And How To Plan
The best time to apply is typically in your 50s or early 60s, before health changes limit choices. MWI Agency works with your attorney to align powers of attorney and healthcare directives, then sizes coverage by budget and goals. Annual reviews keep benefits relevant as local costs shift in places like Birmingham, Grosse Pointe, Pasadena, and Irvine.
Frequently Asked Questions
Answers Before You Decide
What does long-term care insurance cover?
Benefits can pay for home care, assisted living, or nursing care when you meet eligibility criteria.
What if I never need care?
Hybrid policies keep value as a death benefit for beneficiaries.
Can I just use savings?
It is possible, but a few years of care can consume assets quickly; insurance shifts that risk to the carrier.
Does Medicare cover long-term care?
Only short rehabilitative stays, not ongoing custodial care.
