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Gelinas Financial Group, Inc.

LISTEN, UNDERSTAND, RESEARCH, HELP. Money management has a new reality. Financial-planning efforts must consider “the whole client.” We offer a multi layer approach that starts with education. We strive to gain your trust then deliver the results you seek. At Gelinas Financial Group, Inc., our passion is supporting our clients by adding value: You need information to make correct decisions. We’ll help you achieve higher levels of success and better process management through cutting-edge solutions, training, mentoring, and continuing education. Our objectivity and independence mean you get the financial-planning and risk-management solutions that meet the unique demands of your present situation. We offer our expertise in the following areas: Financial Planning Retirement Planning Insurance Investment Coaching Annuities More Hope is not a strategy. We meet with our clients regularly to scrutinize their investments and make adjustments.

Long Term Care Insurance: Mistakes to Avoid at All Costs

Shawna Kreis Shawna Kreis , 5/13/2015
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Gelinas Financial Group, GA, Employee BenefitsLong term care insurance is of the utmost importance to people who truly need it. If you have a family history of certain chronic illnesses or medical conditions, this type of additional coverage may provide you with the daily care services that you need when you get older. Before you purchase any one particular policy, however, there are a few key mistakes that you should know more about so that you can do your best to avoid them.

One of the most devastating mistakes that an individual can make when shopping for long term care insurance involves buying a policy too early in their life. While it is always important to buy a long term care policy before you need it to secure the lowest rates, that doesn’t necessarily mean that the policy needs to be purchased in your 20s, for example. Instead, financial experts are typically in agreement that a policy should be purchased around the age of 40 for the best possible results.

Another key mistake that far too many people make regarding these types of policies has to do with a lack of knowledge about exactly what a policy does and does not cover. The specifics of a long term care insurance policy will vary based on a number of factors, including the insurance provider itself. Make sure any policy you purchase provides the specific type of coverage you will need on a daily basis. Also read about exclusions or other strict requirements that are in place that may prevent you from receiving that coverage later on.

Finally, it is a grave mistake not to investigate the insurance company in question thoroughly before purchasing a policy. Use the Internet to find out if any complaints have been filed against that insurance company with the state. Also look up reviews from other consumers who have done business with the company in the past to get an idea of how your relationship will go.