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The High Cost of Long-Term Care


It’s no secret that if Long-term Care services are needed the cost is high. The cost of Long-Term Care Insurance is also high, however the cost of not having it can sometimes be higher. In addition, these costs are generally not covered by regular health insurance or Medicare.

Until recently, Long-Term Care Insurance was the only way to prepare to deal with these possible expenses. The good news is we now have another choice for coverage.

In response to this need, Life Insurance companies began offering a Long-Term Care “Rider” on currently offered policies. This “Rider” will allow a Life Insurance policy’s death benefit to also be available in case of a Long-Term Care need. This method also offers protection that is superior to traditional Long-Term Care Insurance such as guaranteed premiums that can never go up, benefits that can never go down, and the guarantee that the entire face value of the policy will be paid out to either the insured or their beneficiaries.

These new policies can be applied for or, if you have a traditional Life Insurance policy, you might qualify to exchange your old policy for a new one. Dan Campanelli, CFS, CRPC, CFP and Merry Scala are the MEMBERS Financial Services advisors located at the credit union. Dan and Merry are able to help with an analysis to determine if you in fact need this type of coverage and help determine the solution best suited for you. This analysis comes at no cost or obligation to credit union members and their families. To make an appointment, members should call Linda Phillips at 732.594.7705 or email at

Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), members of FINRA and SIPC a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109.  Non-deposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution.  CBIS is under contract with the financial institution, through the financial services program, to make securities available to members.  The CFP certification marks are not affiliated with CUNA Brokerage Services, Inc.