Long-Term Care Protection StrategiesInsurance Matters

Please Call/Email with any questions.

Financial Matters Series

Securities and Investment Advisory services offered through Transamerica Financial Advisors, Inc. (TFA), a registered investmentadvisor. Member FINRA & SIPC. Non-Security products and services are not offered through TFA. Providence Wealth Partners LLC andTFA are not affiliated. We are licensed to sell securities in the following states: CA, CO, IL, IN, MN, OR and TN. This should not beconsidered a solicitation in any other state. Due to various state regulations and registration requirements concerning the dissemination ofinformation regarding investment products and services, we are currently required to limit access of the following pages to individualsresiding in states where we are currently registered. A broker/dealer, investment advisor, BD agent or IA rep may only transact businessin a particular state after licensure or satisfying qualifications requirements of that state, or only if they are excluded or exempted from thestates broker/dealer, investment advisor, or BD agent or IA rep requirements, as the case may be; and follow-up, individualizedresponses to consumers in a particular state by broker/dealer, investment advisor, BD agent or IA rep that involve either the effecting orattempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be,shall not be made without first complying with the states broker/dealer, investment advisor, BD agent or IA rep requirements, or pursuantto an applicable state exemption or exclusion.

Please visit us at:www.ProvidenceWealthPartners.com

Aging Population

Sources: U.S. Census Bureau, 2012; U.S. Administration on aging, 2012

Every day for the next 15 years, approximately 10,000 baby-boomers will turn 65.

That’s one person every 8 seconds.

Odds of Needing CareAt least 70% of people over age 65 are expected to need long-term care services at some point during their lives

Source: U.S. Department of Health and Human Services, 2012

Understanding Long-Term Care

• What is it?• How much does it cost?• What are my options?

What is Long-Term Care?

How Much Does Long-Term Care Cost?

National Average:Assisted Living: $39,516Nursing Home: $83,580

HIGHCalifornia:Assisted Living: $43,212Nursing Home: $104,755

New York:Assisted Living: $44,412Nursing Home: $127,750

LOWTexas:Assisted Living: $37,092Nursing Home: $66,795

Illinois:Assisted Living: $41,412Nursing Home: $78,840

CA

TX

IL

NY

Source: U.S. Department of Health and Human Services, 2012

What Are Your Options?

What Are Your Options?

• Complete flexibility • Be prepared for potential expense • Many choose this option by default

Best-Laid Plans

65 70 75 80 85 90 95

$1,000,000

900,000

800,000

700,000

600,000

500,000

400,000

300,000

200,000

100,000

0

This is a hypothetical example used for illustrative purposes only. It is not representative of any investment or combination of investments.

needs long-term careNeither Spouse

spends 5 years in a nursing home

(ages 65-69)

One Spouse

Initial Balance: $1,000,000

Annual Return: 5%

Annual Withdrawals: $50,000Annual Withdrawals: $50,000Inflation Adjustment: 3%/yrAdditional LTC cost

(first 5 years):$67,000

Inflation Adjustment: 3%/yr

What About Medicare?

• Covers skilled nursing care; does not cover custodial care• Requires a 3-day hospital stay• Covers days 1-10 completely• Copayment due for days 11-100• Limited choice

Source: Centers For Medicare and Medicaid Services, 2012.

What Are Your Options?

Can cover:

Skilled care

Custodial care

In-home assistance

Pros and Cons of a Long-Term Care Policy

• Protect Assets - Retirement funds - Potential tax benefits• Preserve Dignity - Standard of living - Independence - Choice - Not burden family

Pros Cons• Cost of Premiums - Must be comfortable with the cost• Complexity - Wide range of benefits and premiums

Choosing a Long-Term Care Policy

Understand the limitations

and features of the policy

Type of care

Benefit

Waiting period

Renewable

Inflation protection

Waiver of premium

Financial Matters Series

Brandon SingerBSinger@ProvidenceWP.comP1: (812)569-8161P2: (317)660-1618www.ProvidenceWealthPartners.com

Securities and Investment Advisory services offered through Transamerica Financial Advisors, Inc. (TFA), a registered investmentadvisor. Member FINRA & SIPC. Non-Security products and services are not offered through TFA. Providence Wealth Partners LLCand TFA are not affiliated. We are licensed to sell securities in the following states: CA, CO, IL, IN, MN, OR and TN. This should notbe considered a solicitation in any other state. Due to various state regulations and registration requirements concerning thedissemination of information regarding investment products and services, we are currently required to limit access of the followingpages to individuals residing in states where we are currently registered. A broker/dealer, investment advisor, BD agent or IA rep mayonly transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if they areexcluded or exempted from the states broker/dealer, investment advisor, or BD agent or IA rep requirements, as the case may be; andfollow-up, individualized responses to consumers in a particular state by broker/dealer, investment advisor, BD agent or IA rep thatinvolve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice forcompensation, as the case may be, shall not be made without first complying with the states broker/dealer, investment advisor, BDagent or IA rep requirements, or pursuant to an applicable state exemption or exclusion.