A Confi dent Retirement - Secure Your Independence at Home - Friends Life Care
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
A Confident
Retirement
Secure Your Independence
at Home
®
Imagine Your Future
You’ve worked hard for your retirement. Now is the time to actively
enjoy the lifestyle you’ve invested in and built.
When you picture your ideal future, how are you spending your time?
Who are you with? Where do you live? Getting your plan set when you
are healthy ensures you have the most possible choices.
Today’s retirement does not follow a one-size-fits-all mentality. Envisioning
the goals that are most important and unique to you are essential for
planning and enjoying the next exciting chapter of life.
If you want to stay in your home as you age, a Friends Life Care
membership provides an ideal solution. Enjoy confidence, vitality, and
independence in the next chapter of life without worrying who will
provide you with care if you need it.
®
3
Lifestyle Health $$$ Finances
Key Components to a
Secure, Independent,
and Vital Future
Lifestyle
Health
$$$ Finances
45% of Gen X Today’s Retirement
workers are putting
The composition of America’s population is changing
off thinking about greatly, mainly due to a very important generation: the 19%
2030
retirement until they baby boomers.
get closer to their According to the U.S. Census Bureau, 8.7 million people 13%
will be 85 or older by 2030, the year all baby boomers 2010
retirement date. will join the older population. This shifts the population
aged 65 and older, increasing from 13% in 2010 to 19%
≥65 Population
— Transamerica Center for Retirement Studies Increase
in 2030.
Baby boomers are known to make personalized choices and informed
30%
decisions, an attribute that translates into how they want to age.
It’s never too early or too late to settle questions about how you want to age.
What’s important is that you take action while choices are still available to you.
of baby boomers who
are retired started
T CO
EN
M
A Merrill Lynch survey found that only 10%
M
M
UN
RE
retirement earlier
TI
IT
RE
Y
10% of baby boomers want to move to any kind
than planned due of retirement community.
to unforeseen
circumstances.
— Franklin Templeton
Planning for a Secure Future
When did you first start saving for retirement? According to the 2016
Aegon Retirement Readiness Survey, 47% of people are prompted to
start saving for life stage reasons, such as turning a certain age, starting
a family, or buying a first home.
Take 42%
However, saving for retirement and
42%
strategically preparing forhave
Don’t retirement are
charge
a retirement
different challenges. strategy
Unfortunately, 42% of
American workers do not have a strategy Have no
strategy
of your (Transamerica Center for Retirement Studies).
future. Preparing for financial security should begin as
early as possible. But when do you start planning the future for which
you’re saving?
There are four common options when planning where you will live and what types
Your Options for Future Care of care are available as you age. Review this chart to help choose your best option.
No Plan Continuing Care Retirement Community Long-Term Care Insurance Friends Life Care Membership
Location Home or with relatives. Residents live in and move between Home, hospice, respite, assisted living For those who want to stay at home as long as
70%
different levels of care-related housing facility, nursing home, or special care facility possible. Membership goes with you should you
options within the retirement community. (if your policy is comprehensive). move into a facility or out of state.
Services None. Housing options in one community
(based on a contract).
Skilled nursing and activities of daily living
(ADLs) services.
Non-medical home care and concierge services
specifically designed for you to stay at home as
of people turning
• You may have to rely on children or your
spouse for care. • Assisted living and nursing care facilities. • Assisted living, adult day services, you age. Plus wellness and care coordination. age 65 can expect
• Government programs don’t cover as much • Social activities. hospice care, nursing home facilities. Care Coordinators:
• Are experienced professionals who are
to need some form
as some think. • Dining options.
• Medicare has strict eligibility requirements;
able to coordinate details of in-home care of long-term care
when and if you need it.
in home care typically has limited coverage.1
• Provide prevention support to reduce the during their
risk of need for care.
lives, usually due
Cost The cost of waiting is greater than the The most expensive of all long-term care Based on how old you are when you buy it, Plans are flexible and based on your choice in
to contributing
cost of investing in a plan. options due to multiple charges and level maximum amount your policy pays per day, daily benefits and benefit periods.
Out-of-pocket fees in the area which
of contract. maximum number of years that it will pay,
and optional benefits.
Memberships include options for: factors such as
Friends Life Care primarily serves: • Entrance fees: $100,000 to
$1 million.3 Annual costs:
• Cost-of-living adjustments. age, gender, health
• Nursing Home Annual Rate: $135,866.2 • Discounts for household memberships.
• Assisted Living Facility Annual Rate: $65,960.
2
• Monthly fees: $3,000 to $5,000.3 • Age 55: $4,400.
• Preferred health status.
status, disability,
• Additional fees may include • Couples age 60: $4,190 each.4
• Medicare: deductibles, coinsurance, and housekeeping, meals, etc.3 • Premiums may be raised.
Plus, fees may be tax-deductible. and living
monthly premiums.
arrangements.5
If Your State of Health There is no plan in place if you suddenly Skilled care options will be available to you Insurance plans can be accessed when Membership is designed to help you stay in
Changes… need care. depending on the level of your contract. requirements are met, and provide helpful your own home.
Implications: Implications: benefits for long-term care. Flexibility in how you use your plan:
• You may have to move to an expensive • The natural progression is a move from The challenge: • Care services start and stop when you need
assisted living facility. independent living to receive a higher • In a time of crisis, an expert is needed them.
• It may be left to the state to assess your level of care. to handle important decision-making • Members within a household can share
needs and assign you to a nursing facility or • Spouses may need to move from and coordination of services. The time access to each other’s plans.
basic home care program. the residence or become separated if it takes to arrange and monitor care is • Benefi ts can supplement any living
the other needs a higher level extensive, and insurance only provides arrangements (should they need to change
of care. monetary assistance. in the future).
• Your Care Coordinator arranges and
manages your in-home care needs.
1. MedicareInteractive.org ®
2. LTCNews.com
3. AARP
4. American Association for Long-Term Care Insurance
5. US Department of Health & Human Services
Are You Ready? Membership The Key Difference:
Those who plan early take comfort in the security of a confident future. Friends Life Care is your retirement’s safety net: a secure plan that allows you
to live life to the fullest and as you’ve always imagined by ensuring that any
Care Coordination
Juggling family, work, life — and anticipating what you’ll need as you age is
level of support and care will be there for you, how and when you need it in There are realities to aging — and for many that
an undeniable challenge. If you want peace of mind today for a secure future
the future. means a decline in health either temporarily or over
tomorrow, it’s best to start now, no matter what stage of life you are in.
time. When the unexpected happens, you’ve already
Our membership offers a unique, affordable alternative or supplement to
got a time-tested support system in place.
long-term care insurance and life plan communities, giving you the freedom
to age in the environment most comfortable to you — With a Friends Life Care membership, you will be
Consider the following when looking at your home. matched to a dedicated Care Coordinator. This health
care professional will get to know you on a personal
your options: We help you build a plan that works for your lifestyle & finances;
level before you need care.
an investment tailored specifically to your future needs. That investment
Lifestyle goals (where you want to live and what you want to do) pays for the care you may need to stay in your home, arranged and monitored
Financial support (how you will pay for the cost of living as you age) by a credentialed Care Coordinator.
Care coordination (what will happen if you need assistance as you age)
When and if you are in need of in-home care for
any length of time, your Care Coordinator will:
You’ve always Membership Provides You With…
• Design and oversee a personal • Schedule in-home care services
Common Retirement health, wellness, and care plan. as needed.
been independent. • Peace of Mind — Knowledge that your future • Coordinate outside health care
Goals • Provide advice that helps you stay
Stay that way. is secure. healthy and prevent the need for services.
• Time with friends & family care.
• Financial Protection — Help to avoid spending • Help navigate through the
• Travel your life savings. • Assess potential health risks and complex health care system.
• Hobbies & leisure conditions going forward. • Evaluate and recommend home
• Prevention and Whole-Health Wellness —
• Continuing to work • Arrange and supervise your safety measures.
Access to programs designed to help you both
in-home care as it evolves. • Serve as liaison with family.
physically and mentally.
• Assurance that You Won’t Become a Burden —
Common Retirement Confidence that your loved ones won’t have to
Fears care for you alone. Our Care Coordinators are highly trained professionals
• Outliving savings • Ability to Stay in Your Home — Services that with years of health and wellness experience. They
• Declining health or cognitive ability
are ready for you when and if you need them. take great pride in becoming your trusted advocate,
• Feeling isolated
• Personal Care Coordinator — A trained and anticipating your needs and resolving issues related
skilled care professional assigned to you from
• Burdening my loved ones day one of membership.
to keeping your independence.
• Disappearing Social Security
Our Partnership
Friends Life Care & Morningstar Living have partnered to provide
comprehensive health and wellness solutions for people living at
home. Together, the two organizations work to enrich the quality of
life for people in Eastern Pennsylvania.
The Friends Life Care program provides a truly unique combination
of care coordination and financial benefit needed to help insure
older adults have the resources and support they need to remain
in their own homes as they age. If home care is ever needed, it is
coordinated by Friends Life Care and provided by Morningstar Living’s
trusted network of caregivers.
The collaboration of these organizations’ expertise and experience
in care coordination and home care services allows Friends Life Care
to offer a continuing care at home membership option to even more
people through its partnership with Morningstar Living.
Is Membership
®
, A Proactive
Approach to Resilience
Right for Me?
®
The VigR® philosophy helps us
educate members on the four
Members who join Friends Life Care are factors essential to a healthy life:
between ages 40 – 85, living independently, vitality, independence, growth
in reasonably good health, and a resident and resilience (VigR®). We About Morningstar Living both locally and nationally. We
of Pennsylvania or Delaware. Our members believe that these factors can look forward to continuing that
make the difference between Morningstar Living was incorporated
enjoy customized plans that provide excellence in our new endeavors.
aging and aging well. in 2012 to expand services and offer
comprehensive care coordination when a wide range of lifestyle choices for
Everything we provide to our About Friends Life Care
and how they need it — allowing them to seniors in the Lehigh Valley. Included
members, from workshops and
maintain their independence. quarterly Member Meetings, to in our family of communities are Our Quaker founders strived to
scientifically validated wellness Moravian Hall Square, a life plan provide an affordable alternative
If you envision your future at home, Friends
assessments and our community community of 129 apartments with to traditional continuing care
Life Care helps you maximize your savings partnerships, was designed to
and prepare for the unexpected, while access to personal care and nursing retirement communities; one that
help maximize your health and
providing innovative options to help increase well-being. care services, and Heritage Village, a allows members to stay in their
your vitality and longevity. new, 47-acre active adult community own homes as they age. Today
serving residents age 60 and over. we are recognized and regulated
Now is the perfect time to ensure the by the Pennsylvania Department
Thanks to our founders and staff, we of Insurance as a CCRC “without
future you want to enjoy in the comfort
have become the “gold standard” walls”, as we grow as a steadfast
of your own home. in retirement communities, innovator in home care services.
Peace of mind today
for a secure future
tomorrow.
Call or visit our website today to reserve your space at a
free informational seminar in your neighborhood. Or call for a
free, no obligation phone consultation to learn how to put a
Friends Life Care membership to work for you.
®
800-496-1985
FriendsLifeCare.org
FriendsLifeCare.org/MorningstarLiving
© Friends Life Care 2021. All Rights Reserved.
You can also read
