Knowledge is Power

What is Long Term Care Planning?

Bamford Long-Term Care Financial Services specializes in educating seniors and their families about long term care insurance and coverage. We are NOT a sales company. All we provide is information on services and strategies ranging from long term care insurance to Medicaid planning. We train ordinary people on how Medicare, Medicaid, and other products work and provide local resources that help families prepare for the needs of their older members.

I have savings, why do I need Long Term Care Insurance?

Long term care insurance is regrettably something few have heard of and even fewer have researched. Too many on the cusp of retirement have restricted their planning to a company retirement program, 401k’s, and personal savings accounts. These may serve you well so long as you can retire in your home and maintain your health. What happens though if an illness or injury makes retirement at home impossible? A stroke or Alzheimer’s can strike at any age and often without warning. If you or your loved one suddenly need the level of care only available only at a skilled nursing or memory care community your retirement savings can be drained at a rate far greater than you planned. You may have budgeted a comfortable retirement with expected expenses around $40,000 a year, but a year in such intensive care communities can be well over $100,000 so now your planned budget is $140,000. Are you prepared for that?