Financial Considerations

Most health care insurance quits coverage of your in-home care after approximately 100 days. With the escalating costs of health care (not including unexpected hospitalization) for seniors, insurance is an extremely important issue to understand. Critical insurance questions are-

  • Long Term Health Care Insurance? (Not just for the elderly)
  • Life Insurance?  What type and how much?
  • Income Replacement Insurance?
  • Choosing the right company?

Long Term Health Care Insurance


Long term care is needed by those who can't perform the basic Activities of Daily Living (ADL's) required to take care of themselves. These include:

  • Bathing
  • Dressing
  • Transferring from bed or chair
  • Walking
  • Eating
  • Toilet use
  • Grooming
This can also include people suffering from a debilitating illness or chronic injury. Long Term Health Care Insurance provides varying dollar amounts of coverage that can pay for in home care while one convalesces the balance of one's illness or life. This insurance has criteria like all insurance to qualify and like most all insurance the younger one is the cheaper it is. It is not for just the old, but is for those who lose functions and need assistance with living. You should seriously consider getting this as part of your whole financial planning strategy.

Life Insurance

There are many types of basic Life Insurance. The two most common are Term Life Insurance and Permanent Life Insurance.

Term life insurance allows you to buy protection for a certain amount of time (or term) such as 5,10, 15, 20 or 30 years.  The main benefits include:
  • Cheaper than Permanent life insurance
  • Home mortgage or other loan protection (you can select a policy with decreasing coverage to match your decreasing mortgage or loan balances)
  • Extend coverage for another term without a new medical check-up
  • Additional protection beyond another life insurance policy
Permanent life insurance doesn’t expire until you reach an older age like 95  or 100. The main benefits include:

As long as premiums are being paid, it stays with you throughout your lifetime
A portion of your premiums are invested to produce returns, often tax-deferred
Returns are available to use for retirement, education funding, emergencies, major purchases, and more

If you have questions regarding Long Term Health Insurance or Annuities, contact specialist Dan Nicholas at (831) 421-9995 or visit www.dannicholasclu.com.



See the Santa Cruz County School District map of the school districts in Santa Cruz County that your child may attend. Click on the plus + or minus - buttons to enlarge the map. Before making any decision on buying a home, call the school district to be sure your potential home is in the district you want. As schools face economic problems, some schools may close or the boundaries may have changed. You can contact the Santa Cruz County Office of Education at 831-476-7140 or visit the website of the schools or districts and call the appropriate one.


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