Your Financial Plan

Nearly 70% of people over age 65 will experience a life altering health event requiring some kind of long-term care.

There are four common options to cover costs and care:

  1. No plan
  2. Continuing Care Retirement Community
  3. Long-term care insurance
  4. Friend Life Care Membership

Download “A Confident Retirement” and look for the “Your Options for Future Care” chart for a comparison of these options.

Your Financial Plan

Have you been putting money aside to cover long-term care costs? Do you know if you have saved enough? Self-paying for care means that you will pay out of your pocket from your savings. Transferring risk to Friends Life Care membership means that you pay an annual fee and gain access to a pool of money based on the plan options you choose. The entire pool of money is available to you to use to cover long-term care as soon as you become a member.

Consider your finances and the retirement goals you have; then decide how much you want to self-pay and how much risk you want to transfer. A plan counselor is just a phone call away. They can take you through your options and the prices for each.

Membership Cost

The average cost of membership is $2,500 a year.

Your cost may be as little as $500 a year. You may pay $8,000 a year or more. The actual amount you will pay depends on the plan you choose as well as your age, health and other factors. If you and a spouse/partner join together, you may receive a discount. A plan counselor is available to provide you pricing for the plan you prefer. Call 800-496-1985 today.

All plans include the same care coordination benefit. Different plans provide you with different amounts of money to pay for care. Calculate the financial benefit, pool of money, which fits your situation with the Benefits Calculator.

Membership vs. Personal Savings

Some people tell us they’d rather pay into a personal savings account each year instead of paying the annual membership fee. With current interest rates, doing so won’t save as much as with Friend Life Care membership. If you prefer to self-insure, there are available membership plans that exclusively offer care coordination without the financial component.

Connect with one of our experienced Plan Counselors to learn more and customize a plan to fit your unique needs.

Retirement Guide

Planning for retirement comes with a lot of questions. Start asking the right ones with the help of this free retirement guide.