Insurance products are offered through LPL or its licensed affiliates. Wilmington Advisors @ M&T is a brand name used by LPL representatives to offer securities, advisory, and insurance services and is not a separate legal entity. Registered representatives of LPL using the Wilmington Advisors @ M&T name are employees of M&T Bank. LPL and its affiliates are entities separate from, and not affiliates of, M&T Bank. Securities and insurance offered through LPL or its affiliates are:
Not Insured by FDIC or Any Other Government Agency | Not Bank Guaranteed | Not Bank Deposits or Obligations | Subject to Investment Risks, Including Possible Loss of Principal Amount Invested
The LPL Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
To read LPL Financial disclosures and agreements, please visit their site. To read the M&T Bank Cash Account Disclosure Booklet, please click here.
The content of this page is for informational purposes only. It is not designed or intended to provide financial, tax, legal, investment, accounting, or other professional advice since such advice always requires consideration of individual circumstances. Please consult with the professionals of your choice to discuss your situation.
©2022 M&T Bank and its affiliates and subsidiaries. All rights reserved.
Long-Term Care Insurance
Don’t let costly long-term care wipe out all of your retirement savings.
Planning now with an advisor could help you preserve the
assets you've worked so hard to build for yourself and your family.
How does long-term care insurance work?
Long-term care insurance helps pay for the professional services and support you need for your personal care when you are no longer able to do it on your own. It can ease some of the burden of paying for expensive nursing homes, rehabilitation facilities and home health care, while helping to preserve the assets you've worked so hard to build.
Costs for long-term care may exhaust your retirement assets–just one year in a nursing home facility can deplete years of hard work and planning. Home care is becoming a popular option, but skilled home services are also very costly. Unfortunately, many people overestimate the role that Medicare and Medicaid can play in covering these costs.
What are the benefits of long-term care insurance?
Here are some of the potential benefits long-term care insurance can provide:
- Potential tax advantages. Your premiums, within limits, may be itemized as a tax-deductible medical expense–consult your tax advisor to find out how this applies to your particular situation.
- Savings if you start early. Like many insurance products, your annual premiums are generally lower if you purchase a long-term care policy when you are younger and in good health.
- Higher chance of getting the care of your choice. As a policyholder, you may be in a better position to choose the type of care you want without compromising your independence.
- Reduced financial risk. Long-term care insurance is designed to transfer some of the risk of high-cost care to the insurance company.
Is long-term care insurance right for you?
Long-term care insurance may not be appropriate for everyone. Speak with an advisor to see if it makes sense for you.
Check our background.
Check the background of investment professionals associated with this site on FINRA’s BrokerCheck.