KNIGHTS OF COLUMBUS INSURANCE “Your Shield For Life”.

November – LTC Awareness Month

Common LTC misconceptions
As Baby Boomers have reached retirement years, long-term care (LTC) insurance products have gotten more public attention, but they’re still not well understood, especially when it comes to how to pay for care. For example, many Americans believe that Medicare pays for long-term assistance with the basic activities of daily living — but it doesn’t. It applies only to those who have been in the hospital 72 hours and are diagnosed as requiring “skilled care.” Medicaid covers care only if and when the person has gone through a “spend down” and has no other means to pay for it. Not a good situation to be in.

Another common issue is that Boomers think they can wait to buy LTC. Unfortunately, this could be a financial devastating choice. What happens if you suddenly become ill or uninsurable before you have made this purchase? Again, not a good situation.

Waiting to buy will also increase the cost of the premiums you pay. Consider this example. If you buy a Knights of Columbus Comprehensive Long-Term Care policy for yourself with a $200 daily benefit, lifetime benefit duration and 30-day elimination period at age 40, your annual premium will be $739.20. The total premium paid by age 85 will be $33,264. If you decide to wait to buy the same policy until you are 60 years old, your annual premium will be $2,374 and the total premium paid by age 85 will be $59,350. That’s a difference of more than $26,000. (This example is for comparison purposes only.)

Personal service is crucial in choosing LTC policy options, and for adjusting them as necessary. Group LTC may indeed be a viable option for you, but as your Knights of Columbus agent, I can help you compare the details so you can make an informed decision.

To contact me with regards to LTC or any of your insurance needs, please call my office at (916) 691-4571 or e-mail me at hank.cornell@kofc.org

By Knights … For Knights ….
Hank Cornell, FIC
Ca Lics #0G05138

KNIGHTS OF COLUMBUS INSURANCE “Your Shield For Life”.

“Live On” or “Leave On” Money
As your working life progresses, your priorities will likely shift. Many major life events (weddings, births, education costs for children, etc.) are probably behind you. Your focused shifts to those “golden” retired years when you can enjoy your hobbies, grandchildren, travel or simply relaxing at home.
During my career as a field agent, I’ve had members ask me what they should do with a sum of money they are looking to “dump” somewhere for safe keeping. First, I tell them that there is no safer place to put their money than with the Knights of Columbus. No one has ever lost money using our retirement products. There are no risks assumed by you, the members. Second, I ask the member a question: Is this money to “live on” or “leave on”?
I ask this because the answer makes all the difference. If you want a guaranteed flow of cash in retirement, one of our annuity options might meet your needs. If this money is intended as a gift for grandchildren, to assist your wife in the event of your passing or to give to your favorite charity, a Single Premium Whole Life policy might be the best product.
When it comes to decisions about your finances and your family’s future, don’t leave things to chance. Discuss the options with a brother Knight who knows how to help. Someone who’s helped many other Catholic families not too different from yours. You have someone who can offer you life insurance, long-term care and retirement products that are backed by the strength and security of the Knights of Columbus. There is not a higher rated insurer in North America than the Knights of Columbus.

Call me today to set up a time to meet. You’ll only regret that you didn’t call sooner., please call my office at (916) 691-4571 or e-mail me at hank.cornell@kofc.org.
By Knights …  For Knights ….
Hank Cornell, FIC
Ca Lics #0G05138