Considering the Need for Insurance

When evaluating your health, assets and long term goals, there are many types of insurance to consider. We can help you navigate through the coverage available and what parameters you’ll need to stay secure – and protected. We can also work on no-obligation quotes to consolidate plans to save your investments.

Richwood Financial can assist you in finding the right insurance:

Life Insurance

Beyond the familiar death benefit, permanent life insurance has several valuable advantages that can both expand and protect your financial security.

Long-Term Care Insurance

With America aging at a rapid pace — and with the average cost of nursing home care continuing to skyrocket — long-term care insurance can be a solid investment for individuals who have assets they want to protect or who want to avoid becoming a financial burden to their family.

In general, long-term care coverage helps to pay for assistance with daily activities such as bathing, eating, and dressing; skilled nursing care or rehabilitative services either in a nursing facility or home setting; and cognitive impairments such as Alzheimer’s disease.
Long-term care insurance is not life insurance, disability insurance, or health insurance. Instead, LTC includes a range of nursing, social, and rehabilitative services for people who need ongoing assistance due to a chronic illness or disability.

For the most part, those who need long-term care are left to foot the bill on their own. Neither Medicare, nor Medicare supplemental coverage, also known as Medigap insurance, nor standard health insurance policies fully cover long-term care. That leaves most of us with two options when faced with such expenses: pay out-of-pocket or rely on private long-term care insurance.