Just when you thought you were past the stage in life where you had to think about using protection, another reason comes along and it has nothing to do with the back seat of your parents’ station wagon and steamed-up windows. Being in a dangerous line of work means that you must be ready to protect yourself (and your partner) at all times; to do that, you have employer-issued, dependable weapons like a gun or taser that you keep in perfect condition. But what about protecting your finances on the homefront? What financial weapon do you have in place to do that? One answer is a long-term care (LTC) plan for your spouse.
Dependable Protection Is Not Just For The Single Life
While most other companies’ LTC insurance plans for LEO are geared only toward the employees specifically, NPFBA has created an exception in the insurance marketplace: spouses and domestic partners can get LTC coverage themselves. With an LTC plan from NPFBA, which offers plenty of affordable options, your spouse will have direct access to the type of care that best suits them.
Here are a few reasons why the protection that LTC coverage provides is critical for your spouse:
1. Risky business:
As law enforcement, you’re at higher risk of serious physical injuries, including musculo-skeletal injuries, traumatic brain injuries, and even gunshot wounds. All can lead to long-term rehabilitation and care. If you’re hurt, who will care for your spouse if he or she is injured or diagnosed with a condition that requires long-term care, because it won’t be you! Long-term care benefits can cover in-home healthcare, residential, and assisted living care if your spouse needs it.
2. Coverage beyond your benefits:
The same benefits that cover you as an LEO in the event of injury or disability may not extend to your spouse. When your spouse has their own individual LTC plan, high-quality care is available and provides protection against a medical condition negatively impacting the rest of the family or worsening.
Drains Are For Hair, Not Money
3. Whole-Household Financial Security:
It’s no secret that long-term care can add up quickly; the cost of a nursing facility can be north of $10,000 a month! That type of expense can drain a retirement savings account quickly if it isn’t properly protected. An LTC plan for your spouse means that your entire household’s financial security and retirement is protected.
4. Flexibility and control:
By having their own LTC plan, your spouse can have more control over options for care, including doctors, medical practitioners and location of services. And when it comes to options for medical care, more really is better.
Cover Your Assets
LTC plans for your spouse, like those with NPFBA, protect one of your most valuable financial possessions — your pension and savings — while also providing peace of mind to yourself and your loved ones. Draining your reserves if someone needs long-term care is a worry you can check off your list today with an LTC plan for your spouse.
In a perfect world, we can all care for our loved ones anywhere, anytime. But that’s just not the case in the real world. With an LTC plan in place for your spouse, you can protect and serve at work while everyone, and everything, stays protected at home.