Longevity Planning – Skala Insurance Agency, LLC

Kim Skala, Agency Owner

After seven years in underwriting and technical support, Kim joined the Skala Insurance Agency team and in ten years became the Principal Agent in January 2014.

She is active in local Chambers, Red Key Network and her Agency participates in community sponsored events.

Kim loves spending time with her husband, two daughters, five cats, and dog Pocahontas.

Longevity Planning

By Allen M. Kocsis, Skala Insurance Agency LLC

Chances are, if you are like most people, you have life insurance. You’ve worked hard to get to where you are today, and you wish to protect your family against an unplanned catastrophic event that could hurt your family and drain your financial resources. At the very least, most of us have a policy in place to cover ‘End of Life Expenses’ and possibly a mortgage, if one exists.

But, what about Longevity Insurance? How have you planned for living longer, but with health care needs? Have you taken adequate steps to protect your family from the enormous costs that could be associated with an unforeseen event such as needing skilled rehabilitation care after breaking a hip or during any major surgery recovery period? Many of us will need additional health care as we age!

Of all Americans today age 65 or older, it is estimated that 70% of this group will need Long Term Care (LTC) assistance! LTC is expensive, and the cost continues to grow. People receive LTC for an average of 2.5 years in a nursing home and 4.5 years outside of a nursing home. If you are part of that group, approaching or near age 65, where will that money come from? Have you planned for that?

Fifty-one percent (51%) of us would prefer to receive care at home. With this being true, consider that 40 hours of home health care currently costs about $44,000 per year, and that cost is expected to rise to nearly $97,000 per year by the year 2032! Assisted Living is currently costing around $43,000 per year and is expected to increase to $94,000 per year. A Nursing Home stay costs $90,500 per year now and is expected to climb to $200,250 per year by 2023!

There are affordable solutions available if you plan soon enough, and if you qualify. These plans can be designed with linked benefits or can be traditional in nature. Many plans have money back guarantees and/or a premium guaranteed rate. Plans are available that allow you to collect benefits while staying in your own home, which is what most prefer.

The key is to plan ahead and be prepared!

For Longevity Planning
Contact: Allen Kocsis
440-781-4361 or akocsis@sbcglobal.net
We take pride in putting you first!